Morocco’s central bank cuts electronic payment fees

Morocco’s central bank, Bank Al-Maghrib, has announced new rules that will reduce the cost of electronic card payments as the country continues its push to expand digital payments and reduce its reliance on cash.

Beginning October 1, 2026, domestic interchange fees for bank card payments will be capped at 0.50%, down from 0.65%. Interchange fees are charges paid between banks when consumers make card payments and are a key component of the costs merchants incur when accepting electronic payments.

The central bank has also introduced a lower cap of 0.15% for payments made to government services and small local merchants. Both fee caps are exclusive of tax.

The changes do not apply to transactions made using foreign-issued bank cards, cash withdrawals from automated teller machines (ATMs), or payments processed through three-party payment schemes.

Read more: Morocco’s biggest bank launches instant homeward transfers

The latest reductions follow an earlier cut introduced in 2024 and form part of a broader effort by Bank Al-Maghrib and Morocco’s Competition Council to modernise the country’s payments market.

In 2024, regulators required the Interbank Electronic Banking Center (Centre Monétique Interbancaire, CMI) to end its long-held monopoly over merchant acquiring. That allowed licensed payment providers to compete for merchants while continuing to use CMI’s processing infrastructure under fair and non-discriminatory terms.

According to the two regulators, the reforms have shifted Morocco from a single-acquirer model to a multi-acquirer payments market, increasing competition, expanding merchant choice and helping reduce payment acceptance costs.

Cash nevertheless remains the dominant means of payment in Morocco. GlobalData reports that 53.4% of the country’s adult population remain unbanked in 2026, while it projects that nearly 84% of all consumer payments this year will still be made using cash.

Early signs suggest the reforms are beginning to encourage greater use of digital payments. Mobile payment transaction volumes reportedly increased from 9.7 million in 2023 to 19.7 million in 2025, while the total value of those transactions reached MAD 3.9 billion (approximately US$430 million).

Bank Al-Maghrib and the Competition Council said they will continue monitoring the payments market to support greater access to secure, affordable electronic payment services for both merchants and consumers.

Last updated: July 14, 2026