Revolut, a Global Fintech Powerhouse, Sets Its Sights on Morocco But Faces Stiff Competition from Cash Plus

Revolut has turned its attention to Morocco as part of it’s strategy to expand across the Middle East and North Africa (MENA) region, a way of bringing it’s services into Africa inorder to grow and become more accessible.

However, the digital banking platform is stepping into a market already dominated by a strong local competitor, Cash Plus, which is already popular known by locals.

The UK-based fintech company sees Morocco as a strategic gateway into North Africa, with plans to offer its digital financial services to a young, tech oriented population.

But breaking into the Moroccan market won’t be easy, due to high rate of competition in that niche.

Cash Plus, a home and well known financial services firm, has already established a solid presence and base across the country with a wide agent network and trusted brand reputation over the years. It offers a variety of services, including domestic and international money transfers, bill payments, and mobile wallet solutions, directly overlapping with Revolut’s core offerings, which stands as a serious obstruction to Revolut.

Analysts suggest that while Revolut’s entry could bring up innovation and offer Moroccan consumers more options, the company will need to pattern its services to satisfy local needs and navigate strict regulatory requirements rather than just general services.

The battle for digital finance supremacy in Morocco is heating up, and Revolut is entering with both ambition and caution, trying to make a name for itself.

Those who test positive will be allowed to participate either in non-world ranking female events or in a different competition category altogether.

This test is only required once in an athlete’s lifetime and will be administered under the supervision of their respective member federations.

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