Morocco's central bank, Bank Al-Maghrib, has announced a reduction in the general commission fee for card transactions within the country, effective October 1, 2026. The new fee cap is set at 0.5% of the transaction amount, down from the previous cap of 0.65%. This move aims to promote the use of electronic payments and make transactions more affordable for both merchants and customers.
The commission fee is a charge deducted from the transaction amount when a customer uses a bank card to make a purchase. The fee is split between the payment institution that provided the payment terminal and the bank that issued the card. By reducing the commission fee, Bank Al-Maghrib hopes to encourage more merchants to accept card payments, even for small transactions, and reduce the reliance on cash.
The reduction in commission fees is expected to benefit both merchants and customers. For merchants, lower fees mean lower costs for accepting card payments, which can help increase sales and reduce the need for cash handling. For customers, the wider adoption of electronic payments means more convenient and secure transactions, with less need to carry large amounts of cash.
Bank Al-Maghrib has also introduced a lower fee cap of 0.15% for transactions made with merchants in close proximity, such as neighborhood shops, and for government electronic services. This move is aimed at promoting the use of electronic payments for everyday transactions and making financial services more accessible to a wider range of people.
The central bank has been working to promote electronic payments in Morocco, with a focus on improving the safety and efficiency of payment systems. Bank Al-Maghrib is responsible for overseeing the safety of payment systems in Morocco, including those related to bank cards. The bank has also launched educational initiatives to raise awareness about the benefits of electronic payments.
The reduction in commission fees is part of a broader effort to increase financial inclusion and promote economic growth in Morocco. By making electronic payments more affordable and convenient, Bank Al-Maghrib hopes to encourage more people to use formal financial services and reduce the reliance on cash. This move is also expected to help reduce the costs associated with cash handling and improve the overall efficiency of the payment system.
The new commission fee caps are set to take effect on October 1, 2026, and are expected to have a positive impact on the Moroccan economy. With lower fees, merchants are likely to be more willing to accept card payments, and customers will have more convenient and secure options for making transactions.
Key points
- Morocco's central bank cuts commission fees for card transactions to 0.5%
- Lower fees aim to promote electronic payments and financial inclusion
- New fee caps take effect on October 1, 2026
