CMI
CMI (Centre Monétique Interbancaire) operates Morocco's national payment infrastructure, processing over 500 million transactions annually for 80,000+ merchants, 32 banks, and 100+ public and private creditors via TPE, e-commerce, SoftPOS, and the Fatourati multichannel payment platform.
- Company typePrivate
- Founded2001
- HeadquartersCasablanca, Morocco
- Headcount101–250
- GTM typeB2B
- OfferingServices
What CMI does
CMI (Centre Monétique Interbancaire) is Morocco's national payment infrastructure operator, founded in 2001 by nine Moroccan banks (Al Barid Bank, Attijariwafa Bank, Banque Populaire, BMCE Bank, BMCI, CIH Bank, Crédit du Maroc, Crédit Agricole du Maroc, Société Générale) and operating commercially since 2004. The company operates a Société Anonyme with 98,200,000 DH in capital, headquartered in Casablanca with regional commercial offices in 16+ Moroccan cities, and was historically the sole acquirer for Moroccan card payments before transitioning in May 2025 to a neutral multi-acquirer technical platform serving seven licensed acquiring payment establishments (Al Filahi Cash, Attijari Payment, CDM Pay, Damane Cash, Lana Cash, M2T, Saham Paiements).
CMI's product portfolio centers on the monetic processing backbone (TPE terminals, e-commerce gateway, SoftPOS Tap to Mobile, Dynamic Currency Conversion, merchant portal) and the Fatourati multichannel payment platform, which connects 32 banks and payment establishments to over 70 digital and physical collection channels serving 100+ public and private creditors. The technology stack spans card payment acquisition, API-based and web-based debt collection (Fatourati Collect, Fatourati Agrégateur), QR-based invoice payments (Fatourati QR), and — most recently — the WaSL national e-service distribution hub designed to enable Super App ecosystems. CMI accepts all major international card schemes (Visa, Mastercard, Amex, JCB, UnionPay, Diners, Discover, Maestro) along with national wallets (MarocPay, We Pay, DabaPay, SoPay) and global mobile wallets (Apple Pay, Samsung Pay, Alipay).
CMI generates revenue through transaction-based take rates on processed payments across both monetic and Fatourati flows, complemented by DCC commission shares with merchants and processing/technical fees now charged to acquiring EDPs. The company serves a distributed base of 80,000+ merchant points of sale and 100+ creditor organizations including Direction Générale des Impôts and Trésorerie Générale du Royaume on the public-sector side, with processed transaction volumes exceeding 500 million operations and 323 billion dirhams in financial flows projected for 2025. Growth (~13–16% YoY in 2025) is anchored by contactlessness (~70–75% of transactions), international card spend, and the rollout of WaSL, Fatourati QR, and Fatourati Agrégateur as new platform revenue lines.
CMI firmographics
Firmographics- Name
- CMI
- Legal name
- Centre Monétique Interbancaire
- Website
- https://cmi.co.ma
- Company type
- Private
- Founded year
- 2001
- Operating status
- Operating
- Headcount range
- 101–250 employees
- Short description
- CMI (Centre Monétique Interbancaire) operates Morocco's national payment infrastructure, processing over 500 million transactions annually for 80,000+ merchants, 32 banks, and 100+ public and private creditors via TPE, e-commerce, SoftPOS, and the Fatourati multichannel payment platform.
- Ownership category
- akta.pro rank
CMI industry classification
Industry- Product category
- Payment Processing Services
- NAICS
- Financial Transactions Processing, Reserve, and Clearinghouse Activities (52232)
- SIC
- Finance Services (6199)
- akta.pro primary industry
- Alternative Payment Methods (APMs) Enablement (BNPL, wallets, local methods) (FSAMACAE)
- akta.pro secondary industries
- Recurring Billing, Subscriptions & Tokenized Payments (CRAFALAH), Payments Operations (ACH/Wire/RTGS, SWIFT, SEPA, Checks) (FSABALAB), Multi-Currency Accounts, Wallets & IBAN Services (FSAMAIAG)
Keywords
Where CMI is headquartered
LocationHeadquarters
- HQ city
- Casablanca
- HQ country
- Morocco
- HQ region
- Africa
Offices17 records
Markets served
CMI business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Technology or R&D, Personnel, Operations, Infrastructure, Marketing or Sales
Revenue model
- Card Transaction Processing Fees: CMI charges merchants a fee for processing card payments (acquiring services). As a technical platform for multiple acquiring partners since May 2025, CMI processes transactions and charges technical/processing fees. Historically served as sole acquirer for 80,000+ merchant points of sale and e-commerce sites.
- Fatourati Multichannel Payment Services: CMI operates the Fatourati platform enabling bill and debt collection across banks and payment establishments. Revenue derives from transaction fees on payments processed through the platform, connecting creditors to debtors via 70+ channels. In 2025, Fatourati processed over 250 million transactions totaling approximately 220 billion dirhams.
- Dynamic Currency Conversion (DCC): CMI generates revenue from Dynamic Currency Conversion services on e-commerce and TPE transactions, enabling foreign cardholders to pay in their home currency. Commission is shared with merchants, with international card transaction volumes of approximately 26-32 billion dirhams annually.
- Technical Platform / Processing Services: Since May 2025, CMI operates as a neutral multi-acquirer technical processor, charging technical processing fees to acquiring payment establishments (EDPs) for transaction processing, security, and platform services.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Transaction based/ take rate | Pay-as-you-go | Transaction-based merchant acquiring services |
| Freemium | Monthly | Free TPE paper rolls for merchants |
| Transaction based/ take rate | Pay-as-you-go | Fatourati multichannel payment platform |
Go-to-market motion3 records
Distribution channels8 records
Marketing channels9 records
CMI product offering
Product offeringCore offering
CMI operates Morocco's national payment infrastructure, providing electronic payment processing services including electronic payment terminals (TPE) for in-store merchants, an e-commerce payment gateway for online merchants, the Fatourati multichannel payment platform for bill collection and debt settlement, Dynamic Currency Conversion (DCC), SoftPOS/Tap to Mobile software-based POS solutions, and the WaSL national E-Service Hub. Since May 2025, CMI operates as a neutral multi-acquirer technical platform serving payment establishments across Morocco, processing over 240 million monetary transactions and 250+ million Fatourati transactions annually.
Product overview
CMI (Centre Monétique Interbancaire) operates as Morocco's national payment infrastructure operator, providing a comprehensive suite of payment acceptance and processing services. The core offerings include TPE (electronic payment terminals) for physical merchants and an e-commerce payment gateway for online transactions, both processing payments across multiple card networks. Fatourati serves as the flagship multi-channel payment platform for bill collection and debt settlement, connecting 32 banks and payment institutions to over 70 digital and physical channels. The product portfolio extends through add-on modules including Fatourati Collect (web-based debt collection), Fatourati Agrégateur (API integration for software publishers), Fatourati QR (QR code payments), and Tap to Mobile SoftPOS (smartphone-based payments). WaSL represents CMI's expansion into e-service distribution hubs enabling Super App development. Supporting services include MarocPay mobile wallet, loyalty programs (CMI Fidélité, FID&You), Dynamic Currency Conversion for international payments, anti-fraud services, and merchant analytics portals. The company serves over 80,000 merchant locations processing over 240 million annual transactions.
Differentiator
Problem solved
Functional benefit
Brands
- Fatourati: National multichannel payment platform for bill and debt collection, connecting 32 banks and payment institutions to over 70 digital and physical payment channels.
- Fatourati QR
- Fatourati Collect
- Fatourati Aggregator
- WaSL
- Maroc Pay
Companies that use CMI
Customer profileNamed customers7 records
Segments5 records
Ideal customer profiles4 records
CMI technology and API
TechnologyAPI detail
- Has API
- Yes
- API docs
- API detail
Core technology
AI maturity
App detail
Integration18 records
AI capability1 record
Feature7 records
CMI partnerships and signals
Strategic signalPartnerships
Eleven partnerships are on record, tiered core and minor.
- JCB InternationalcoreJCB International and CMI expanded their partnership to enable JCB card acceptance for all acquiring payment establishments affiliated with CMI. JCB has 169+ million cardholders and 56 million merchant acceptance locations in 160+ countries. This supports Morocco's positioning as a financial and tourism hub ahead of FIFA World Cup 2030.
- Al Filahi CashcoreAl Filahi Cash is one of seven acquiring payment establishments (EDPs) that launched card payment acquisition services on May 1, 2025, using CMI's technical platform as a neutral multi-acquirer processor.
- Attijari PaymentcoreAttijari Payment (subsidiary of Attijariwafa Bank) is one of seven acquiring payment establishments that launched card payment acquisition services using CMI's technical platform from May 2025.
- CDM Pay (Crédit du Maroc)coreCDM Pay is one of seven acquiring payment establishments that launched payment acquisition services using CMI's technical platform from May 2025.
- Damane CashcoreDamane Cash is one of seven acquiring payment establishments that launched card payment acquisition services using CMI's technical platform from May 2025.
- Lana Cash (CIH Bank)coreLana Cash (from CIH Bank) is one of seven acquiring payment establishments that launched card payment acquisition services using CMI's technical platform from May 2025.
- M2T (Chaâbi Payment)coreM2T (Chaâbi Payment) is one of seven acquiring payment establishments that launched card payment acquisition services using CMI's technical platform from May 2025.
- Saham Paiements (Saham Bank)coreSaham Paiements (subsidiary of Saham Bank) is one of seven acquiring payment establishments that launched card payment acquisition services using CMI's technical platform from May 2025. In December 2025, Saham Paiements also announced taking over part of CMI's merchant portfolio as part of Morocco's market liberalization.
- VisacoreVisa partnered with CMI to launch SoftPOS 'Tap to Mobile' in Morocco, the first such deployment in the country. Visa collaboration enables small merchants and artisans to accept contactless payments via smartphone, advancing financial inclusion objectives.
- MastercardcoreStrategic partnership (June 2024) to support development of co-branded MasterCard/CMI card portfolios and promote electronic payment acceptance in Morocco. Collaboration aims to connect consumers and merchants with innovative payment experiences (mobile payment, NFC, e-Commerce, international payments) and drive digital inclusion.
- UnionPay InternationalminorCMI announced UnionPay e-commerce acceptance at its e-merchants, an exclusivity enabling over 9 billion UnionPay cards worldwide to purchase products and services from Moroccan e-commerce sites (accommodation, airline tickets, etc.).
Scale indicators14 records
Recent moves9 records
Expansion highlights7 records
CMI competitors and assessment
Company assessmentDirect peers
- HPS (Hightech Payment Systems): Casablanca-based payment software company serving banks and acquirers across MENA, Africa, and Europe with card processing, switching, and digital payment solutions. Direct comparable to CMI in Moroccan and pan-African payment infrastructure, with overlapping customer base among Moroccan banks.
- Network International: UAE-based payment processor and acquirer serving MEA region with similar end-to-end merchant acquiring, card processing, and value-added services. Direct competitor in the African/Middle East payment processing league; cited in same Nilson Report rankings as CMI.
- S2M (Société Monétique de Tunisie): Tunisian national payment processor providing card acquiring, payment gateway, and ATM management for the Tunisian market. Closest North African peer with comparable national-payment-infrastructure model and similar multi-channel bill collection platform.
- Magnati: UAE-based payment processor offering merchant acquiring, payment gateway, and processing services across the Middle East. Comparable acquirer/processor model with similar product portfolio (POS, e-commerce, value-added services) and regional payment network operator status.
Emerging players
- Paymob: Egyptian payment infrastructure provider offering online and in-person payment acceptance, digital wallets, and value-added services to MENA merchants. Comparable product breadth (SoftPOS, payment gateway, checkout) but focused on Egypt; emerging regional threat to CMI's pan-African ambitions.
Regional players
- M2M Group (M2M Tunisie): Tunisian payment processor and e-money issuer providing multi-channel payment services for North Africa. Peer in the Maghreb region with comparable merchant acquiring and electronic payment services, though primarily serving the Tunisian market.
Broad incumbents
- Stripe: Global payment processor with significant Moroccan e-commerce presence via integration partnerships. Indirect peer for CMI's e-commerce gateway offering; represents competitive threat for international merchants but does not have first-party Moroccan POS infrastructure.
- Worldline: European payment processor with merchant services, acquiring, and digital services across 30+ countries. Comparable acquisition/processing infrastructure model; relevant for benchmarking as a global incumbent transitioning from traditional processing to multi-acquirer platform models.
Others
- Verifone: Global POS terminal hardware and payment-as-a-service provider. Adjacent supplier relationship to CMI through TPE terminals and enabling software; relevant for understanding hardware/software economics in the payments value chain.
- Visa Acceptance Platform: Visa's acquiring/processing infrastructure division competing globally in payment processing. Relevant principally as a partner (co-branded cards, SoftPOS launch) but also a potential long-term threat if Visa expands its direct processing footprint in Africa.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat6 records
Key risks6 records
Key highlights7 records
Customer concentration
CMI social profiles
Digital presenceCMI compliance and trust
Trust signalCompliance2 records
CMI financial estimates
Financial estimateRevenue estimate
Valuation estimate
CMI leadership team
Management profileNumber of profiles
CMI funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
CMI M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about CMI
What does CMI do?
CMI operates Morocco's national payment infrastructure, providing electronic payment processing services including electronic payment terminals (TPE) for in-store merchants, an e-commerce payment gateway for online merchants, the Fatourati multichannel payment platform for bill collection and debt settlement, Dynamic Currency Conversion (DCC), SoftPOS/Tap to Mobile software-based POS solutions, and the WaSL national E-Service Hub. Since May 2025, CMI operates as a neutral multi-acquirer technical platform serving payment establishments across Morocco, processing over 240 million monetary transactions and 250+ million Fatourati transactions annually.
Is CMI a public or private company?
CMI is a private company. It is classified as corporate owned and is currently operating.
When was CMI founded?
CMI was founded in 2001. It employs 101 to 250 people.
Where is CMI based?
CMI is headquartered in Casablanca, Morocco, in the Africa region.
How does CMI make money?
Four revenue lines are on record. Card Transaction Processing Fees are the primary driver. The others are fatourati Multichannel Payment Services, dynamic Currency Conversion (DCC) and technical Platform / Processing Services.
Who are CMI's main competitors?
Direct peers on record are HPS (Hightech Payment Systems), Network International, S2M (Société Monétique de Tunisie) and Magnati. Paymob is listed as an emerging player. M2M Group (M2M Tunisie) is listed as a regional player. Broad incumbents are Stripe and Worldline. Others are Verifone and Visa Acceptance Platform.
Does CMI have an API?
Yes. CMI offers API integration capabilities for Fatourati, enabling real-time connection to information systems. The Fatourati Aggregateur allows software publishers, fintechs, and digital platforms to integrate debt collection services directly into their solutions. Fatourati Collect provides a web application for generating and tracking claims without technical development. E-commerce payment integration APIs are available for online merchants with dedicated support channels for integration follow-up. Developer documentation is at payment.cmi.co.ma/adapter/sfcmi.
What industry is CMI in?
CMI's product category is Payment Processing Services. Its primary akta.pro industry code is FSAMACAE, Alternative Payment Methods (APMs) Enablement (BNPL, wallets, local methods), with a secondary code of CRAFALAH, Recurring Billing, Subscriptions & Tokenized Payments. Its NAICS code is 52232 and its SIC code is 6199.