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Morocco Slashes Card Interchange Fees to 0.5% – Bank Al‑Maghrib & Competition Council Drive Payment Market Reform
<p>Bank Al‑Maghrib and Morocco’s Competition Council have joined forces to reshape the electronic‑card payment landscape. A series of joint meetings led to decisive actions that force the Interbank Payment Centre (CMI) to relinquish its monopoly and open the market to new acquirers.</p><p>At the same time, the central bank lowered the domestic interchange cap from 0.65 % to 0.5 %, with a special 0.15 % rate for government and local‑commerce transactions. These measures aim to boost competition, lower merchant costs, and accelerate financial inclusion across the Kingdom.</p>
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Joint Institutional Cooperation
Bank Al‑Maghrib and the Competition Council have held a series of coordinated meetings focused on Morocco’s card‑based electronic payment market. Their joint effort targets the commitments made by the Interbank Payment Centre (CMI) and its shareholder banks to increase competition and foster financial inclusion.
Key Regulatory Decisions
Competition Council Decision No. 152/ق/2024 (amended) makes the CMI’s pledges legally binding. The decision forces CMI to cease its own acquiring activities and to open the acquiring market to new entrants according to a strict timeline:
- From 1 November 2024, CMI may no longer solicit new merchants.
- The full portfolio of merchant contracts must be transferred by 31 January 2026 for private contracts and by 30 April 2026 for public contracts.
- All payment‑service providers are guaranteed non‑discriminatory access to CMI’s technical processing platform.
Support from the Central Bank
Bank Al‑Maghrib has been assisting both newly‑licensed and existing payment establishments in launching acquiring services, while ensuring compliance with security, continuity, and reliability standards required for payment services.
Interchange Fee Reduction
After capping the domestic interchange fee at 0.65 % in October 2024, the central bank further lowered it to 0.50 % with Decision No. 265/W/2026, effective 1 October 2026. A specific ceiling of 0.15 % applies to government and local‑commerce payments.
These actions enable the transition from a single‑acquirer model to a multi‑acquirer architecture, guaranteeing service continuity, diversifying the product offering, and reducing acquisition commissions paid by merchants.
Future Monitoring
Both authorities pledge to continue regular monitoring of the payment market, ensuring citizens and merchants enjoy safe, affordable electronic solutions.