tl;dr
Vantage Payment Systems (VPS) and Mastercard have partnered to advance digital payments in Morocco, aiming to improve financial inclusion and expand Mastercard-branded cards and digital payment options, including blockchain-based tokenization and digital wallets. This collaboration leverages VPS's l...
Vantage Payment Systems (VPS) and Mastercard have joined forces to advance digital payments in Morocco, focusing on enhancing financial inclusion and expanding Mastercard-branded cards and digital payment solutions. This partnership leverages VPS’s local infrastructure and Mastercard’s cybersecurity capabilities, introducing blockchain-based tokenization and digital wallets to the Moroccan market. The collaboration aims to benefit both merchants and consumers, supporting Morocco’s growing shift toward digital payments and reconsideration of its seven-year digital currency ban.
Across Africa, digital payments are forecasted to reach $1.5 trillion by 2030, propelled by emerging technologies and a strong push to increase financial inclusion for the underbanked. Despite an anticipated rise in fraud risk, the continent’s payment landscape is rapidly evolving, with cross-border digital transactions growing at a double-digit annual rate.
In Latin America, digital asset remittances have surged by over 40% in the past year, largely driven by stablecoin adoption. Countries like Brazil and Argentina use stablecoins to combat currency devaluation and inflation, benefiting from faster, more efficient cross-border payments. The region is also witnessing an expansion of digital asset ATMs, which help reduce dependence on intermediaries and lower transaction fees, particularly in Mexico, Panama, Colombia, and Argentina.
Latin America is emerging as the fastest-growing region for digital payments, fueled by government-led initiatives and international collaborations. Brazil’s Pix system is gearing toward automation to boost transaction volume by an additional $30 billion, while Peru is integrating India’s Unified Payment Interface (UPI) to enhance its payment ecosystem.
On the regulatory front, Brazil is exploring ways to monitor cryptocurrency transactions amid challenges in establishing clear digital asset regulations. Meanwhile, the Bank of England plans to implement stringent digital asset rules by 2026, including standardized bank exposure reporting and global regulatory alignment, signaling a move toward increased oversight of digital finance activities.