Pay10 Receives Regulatory Approval to Operate in Morocco’s Digital Payments Sector
The license authorizes Pay10 Maroc to operate as an official payment institution in the Kingdom, enabling it to offer secure, interoperable, and real-time digital payment solutions across the country.
Pay10, a leading fintech company chaired by Prabhpreet Singh (Harry Gill), has reached a major milestone with the approval of its Payment Institution License from Bank Al-Maghrib, Morocco’s central bank. The license authorizes Pay10 Maroc to operate as an official payment institution in the Kingdom, enabling it to offer secure, interoperable, and real-time digital payment solutions across the country.
Announcing the news on LinkedIn, Singh described the license approval as “an important milestone for Pay10” and expressed gratitude to Bank Al-Maghrib for its confidence in the company’s vision and capabilities. He commended Morocco’s proactive approach to digital transformation, highlighting the nation’s commitment to financial inclusion and technological modernization.
With this license, Pay10 Maroc aims to collaborate with local partners, merchants, and small and medium-sized enterprises (SMEs) to expand access to innovative financial tools. The company’s goal is to strengthen the country’s digital payments infrastructure and support the development of a cashless economy. Singh emphasized that Pay10’s mission aligns closely with Morocco’s broader national strategy to promote inclusive finance and accelerate economic growth through digital innovation.
This achievement positions Pay10 among a growing number of global fintech firms expanding into North Africa’s rapidly evolving digital payments landscape. As Morocco continues to enhance its financial ecosystem through regulation, interoperability, and modernization, the entry of licensed players like Pay10 is expected to drive competition, improve customer experience, and deepen financial penetration across the region.
Singh concluded his statement by reaffirming Pay10’s long-term commitment to “working closely with partners across the ecosystem to expand access to secure, interoperable, real-time digital payments that strengthen merchants, SMEs, and communities across the Kingdom.”
