The Central Bank of Morocco, Bank Al-Maghrib, has announced a reduction in the interchange fee for domestic card transactions. Effective October 1, the fee will decrease from 0.65% to 0.50% excluding taxes. A preferential rate of 0.15% will be applied to payments made to the administration and for local commerce. This move aims to encourage electronic payments and reduce the reliance on cash transactions in the country.
The interchange fee is a commission paid by the acquiring bank, which contracts with the merchant, to the issuing bank of the card. It is a significant component of the cost borne by merchants for each electronic transaction. The reduction in this fee is expected to alleviate some of the costs associated with electronic payments, potentially encouraging more merchants to adopt this payment method.
This change follows the exit of the Central Monetary Interbank Center from the acquisition activity in May 2025. The center's withdrawal allowed new operators, including payment establishments and dedicated banking subsidiaries, to enter the market. According to Bank Al-Maghrib and the Competition Council, this opening has led to a diversification of commercial offers and a significant decrease in acquisition commissions charged to merchants.
The preferential rate of 0.15% targets two priority segments: payments to administrations and public organisms, where card usage is currently low, and local commerce, which constitutes the majority of Morocco's retail sector. The goal is to increase the usage rate of cards for transactions rather than just expanding the number of cardholders.
Morocco has several million cardholders, but a significant portion of transactions still involve cash withdrawals from ATMs rather than direct payments. This maintains the dominance of cash in the economy and limits the traceability of transactions. By reducing the interchange fee, authorities hope to encourage more electronic transactions.
The reduction in interchange fees and the introduction of preferential rates for certain sectors are part of broader efforts to increase financial inclusion and reduce the informal economy. By making electronic payments more attractive to merchants and consumers, Morocco aims to enhance the efficiency and transparency of its financial system.
The impact of these changes on the Moroccan economy will depend on various factors, including the response of merchants and consumers to the new fee structure and the competitive landscape of the payment services market. As the market continues to evolve with new operators and services, the effectiveness of these measures in promoting electronic payments will become clearer.
Key points
- The interchange fee for domestic card transactions in Morocco has been reduced to 0.50% from 0.65%, with a preferential rate of 0.15% for payments to administration and local commerce.
