MT Cash

What MT Cash does

MT Cash is a Moroccan mobile payment and electronic money service (M-Wallet) that enables individuals to deposit, withdraw, transfer, and spend money via a smartphone application and web portal, without requiring a bank account. The platform operates under Bank Al Maghrib regulatory oversight per Decision N392/W/2018 on domestic mobile payment and Circulaire N°7/W/16, which mandates a three-tier account structure with maximum balances of 200 DH (Level 1), 5,000 DH (Level 2), and 20,000 DH (Level 3). Its core product suite includes the MT Cash mobile application (iOS/Android), the web portal at login.mtcash.ma, the MT Cash Marchand merchant acceptance service (QR code and phone-number based payments), and the MT Cash Agent service enabling authorized agents to perform cash-in/cash-out, bill payments, and recharges on behalf of customers. The technology stack centers on PIN-secured authentication, QR-code merchant payments, real-time 24/7 transaction processing, and interoperability with other Moroccan mobile payment providers.

MT Cash's business model is anchored on two disclosed transaction-fee streams: tiered cash withdrawal fees ranging from 10 DH to 61 DH per withdrawal depending on amount, and card-to-wallet top-up fees. Account opening and management are free, and most value-added services (bill payment, merchant payment, phone recharge, cash deposit) are free for end users, with only the transaction amount deducted. MT Cash operates exclusively within Morocco and distributes through a hybrid of digital self-service (mobile app and web) and a physical network of authorized agents and branches, with corporate headquarters located at Immeuble Riad 1, Avenue Annakhil, Hay Riad, Rabat.

The company is tightly linked to IAM (Ittihad Al Matjar / Maroc Telecom), Morocco's largest telecommunications operator, which functions as a strategic distribution and infrastructure partner — MT Cash leverages IAM's mobile network, retail footprint, and customer base, while remaining accessible to subscribers of all Moroccan mobile operators. The disclosed operating entity is lean at 8 employees, suggesting MT Cash operates as a regulated product line within the broader IAM ecosystem rather than as a standalone scaled fintech. No revenue, funding rounds, acquisitions, leadership changes, or product launches beyond the 2020 launch suite are disclosed in the input data.

Name

MT Cash

Legal name

MT CASH

Website

https://mtcash.ma

Company type

Private

Operating status

Operating

Headcount range

1–10 employees

Short description

MT Cash is a Moroccan mobile wallet and electronic money service, regulated by Bank Al Maghrib, that enables consumers, agents, and merchants to conduct deposits, withdrawals, transfers, bill payments, and merchant payments domestically via mobile app, web, and agent network, anchored by a partnership with IAM (Maroc Telecom).

Ownership category

akta.pro rank

Product category

Mobile Payments

akta.pro primary industry

Cash-in/Cash-out Agent Network Wallets (FSAMAEAJ)

akta.pro secondary industry

Carrier Billing & Telco Mobile Money (FSAMAEAD)

Keywords

• Mobile payment services
• Electronic wallet
• Digital wallet
• Mobile money transfer
• Cash-in cash-out

Headquarters

HQ city

Rabat

HQ country

Morocco

HQ region

Africa

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure

Revenue model

1. Cash Withdrawal Fees: Tiered transaction fees applied to cash withdrawal operations. Fees scale with withdrawal amount from 10 DH minimum to 61 DH maximum.
2. Card-to-Wallet Top-up Fees: Fees charged to users when loading their MT Cash account using a Moroccan bank card through the mobile app or web portal.

Pricing tiers

Go-to-market motion1 record

Distribution channels4 records

Marketing channels4 records

Core offering

MT Cash is a regulated mobile electronic wallet (M-Wallet) service in Morocco that enables individual users to deposit and withdraw cash, transfer money to other mobile payment accounts, pay bills, recharge mobile phones, and make merchant payments via QR code or phone number. The service is operated in partnership with IAM (Maroc Telecom) and is accessible to subscribers of any Moroccan mobile operator via a smartphone app, web portal, or authorized agent network. Account opening is free, with no management fees, and the service is governed by Bank Al Maghrib's regulatory framework for domestic mobile payment.

Product overview

MT Cash is a unified mobile payment and digital wallet (M-Wallet) service operated by IAM (Maroc Telecom) in Morocco. The platform consists of the core MT Cash M-Wallet service accessible via a mobile application (iOS/Android) and a web portal (login.mtcash.ma/Portal/). The ecosystem includes specialized sub-products: the Merchant Service (MT Cash Marchand) allowing traders to accept mobile payments, and the Agent Service enabling authorized agents to perform deposits, withdrawals, and other transactions on behalf of customers. All components are interconnected within a single network providing services including cash deposits/withdrawals, money transfers, bill payments, merchant payments, and phone recharges.

Differentiator

Problem solved

Functional benefit

Products and services

• MT Cash M-Wallet (Mobile Electronic Wallet) Mobile payment and electronic money service that allows individual users to manage money via their mobile phone, enabling deposits, withdrawals, transfers, bill payments, merchant payments, and phone recharges in Morocco. Targeted at Moroccan consumers who do not necessarily have a bank account.
• MT Cash Mobile Application (iOS/Android) Smartphone application for iOS and Android that allows users to access MT Cash services including account management, money transfers, bill payments, merchant payments, and phone recharges directly from their mobile device.
• MT Cash Web Portal Online web-based platform enabling users to access MT Cash account management, create accounts, and perform transactions via web browser without app installation.
• MT Cash Marchand (Merchant Service) Merchant payment solution allowing Moroccan traders and retailers to accept instant mobile payments from customers directly through MT Cash, enabling QR code scanning and phone number-based transactions at point of sale. Reduces cash handling costs and enables a digital customer experience.
• MT Cash Agent Service Agent network service enabling authorized agents to perform account creation, cash deposits, withdrawals, bill payments, and phone recharges on behalf of MT Cash customers, earning commissions on transactions processed.

Quantifiable outcome

• 24/7 availability - transactions processed instantly at any time

Segments3 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

One partnership is on record.

• IAM (Ittihad Al Matjar)coreStrategic or Co-development PartnerIAM is Morocco's telecommunications operator and the parent/partner behind MT Cash. MT Cash leverages IAM's mobile network infrastructure, customer base, and retail points for agent locations. The service is accessible to subscribers of all Moroccan operators, not just IAM.

Scale indicators2 records

Recent moves6 records

Expansion highlights4 records

Direct peers

• Cash Plus: Moroccan mobile payment account service jointly backed by Barid Al-Maghrib (the postal bank) and Banque Populaire, with a large agent network for cash-in/cash-out. Mirrors MT Cash's tiered KYC and core service set under the same Bank Al Maghrib regulation.
• Wafacash: Mobile wallet service from Attijariwafa bank, Morocco's largest private bank. Directly competes with MT Cash in domestic P2P transfers, cash-in/cash-out via agents, bill payment and merchant acceptance, and operates under the same Bank Al Maghrib framework.
• Damane Cash: Bank-backed mobile wallet from Bank of Africa (BMCE), providing P2P transfers, bill pay, and merchant acceptance under the Bank Al Maghrib framework. Comparable regulatory and product profile to MT Cash with deeper banking integration.
• inwi money: Telco-led mobile wallet from inwi (Maroc Telecom's main rival) offering P2P transfers, bill payment, merchant payments and cash-out via its own agent network. Most comparable peer given the parallel telco-plus-wallet model.
• Orange Money Maroc: Mobile money service from Orange Morocco (the country's third mobile operator), offering account-based payments, transfers and merchant acceptance under the same domestic framework. Closest direct rival to MT Cash's telco-operated agent-network model.

Emerging players

• T Money (Togocom): Telco-led mobile money service in Togo providing tiered KYC accounts, agent cash-in/cash-out, bill pay and merchant payments. Closely mirrors MT Cash's telco-wallet-plus-agent model in a smaller francophone African market.
• Wave: Mobile money operator expanding across West Africa (Senegal, Ivory Coast, Mali, Burkina Faso, Gambia) with low-fee P2P transfers and a mobile-first design aimed at unbanked users. Comparable digital-wallet thesis to MT Cash in neighboring francophone markets.

Broad incumbents

• MTN MoMo: Pan-African mobile money service from MTN Group operating across multiple markets with agent-based cash-in/cash-out, transfers and merchant payments. Broad incumbent benchmark for telco mobile-money at scale, though it does not currently operate the same product in Morocco.
• Airtel Money: Mobile money arm of Airtel Africa offering wallet services, P2P transfers, bill payments and merchant acceptance via an agent network across multiple African markets. Comparable telco-led wallet model, useful as an architectural and competitive reference.
• M-Pesa (Safaricom / Vodafone): Largest telco-led mobile money platform in Africa (Kenya, Tanzania, etc.) with agent-led cash-in/cash-out, merchant payments, and tiered KYC. The benchmark for telco-mobile-money economics that IAM and MT Cash are operating against regionally.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/mtcash-morocco

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about MT Cash