Agadir – Bank Al-Maghrib (BAM) has lowered the ceiling on domestic interchange fees for bank card payments to 0.5%, aimed at reducing the cost of electronic payments and encouraging wider card acceptance among Moroccan merchants.
The new ceiling took effect this year on October 1, replacing the previous 0.65% cap introduced in October 2024. The new rate applies to domestic card payments made with cards issued in Morocco.
BAM has also set a specific ceiling of 0.15% for payments made to government entities through e-government services and for transactions at local and small businesses. The rates are set excluding tax.
The Central Bank explained the changes in an educational video titled “The Advantages of Electronic Means of Payment,” shared on its official channel. The video explains how card payments work and the role played by the different institutions involved in processing a transaction.
When a customer pays by card, the transaction involves the bank that issued the card and the institution that provides the merchant with payment-acquiring services, including access to an electronic payment terminal, or POS.
The interchange fee represents the portion of the payment-related fees that goes to the card-issuing bank. It forms part of the broader acquiring commission charged to the merchant for accepting card payments. The total cost paid by a merchant can therefore include other elements in addition to the interchange fee.
BAM used the example of a customer paying by card at a bakery to illustrate the process. The customer’s account is charged for the purchase, while the merchant receives the corresponding amount through the payment system, with applicable fees deducted as part of the transaction process.
For transactions involving local businesses, the interchange fee paid to the card-issuing bank is capped at 0.15%. For other domestic card payments, the ceiling stands at 0.5%.
Before October 2024, Bank Al-Maghrib had not imposed a regulatory ceiling on domestic interchange fees. The Central Bank introduced a first cap of 0.65% in September 2024, with the measure taking effect on October 1 that year.
The latest reduction comes as Morocco continues to reform its electronic payments market. In 2024, Bank Al-Maghrib and the Competition Council backed measures to increase competition in card-payment acquisition.
BAM said the lower interchange ceiling should help reduce the cost associated with accepting electronic payments, particularly for local and small businesses. The measure could encourage more merchants to accept card payments, including for lower-value transactions.
The Central Bank has also stressed that merchants cannot pass card-payment commissions on to consumers by adding a surcharge to the price of goods or services. The acquiring commission remains the merchant’s responsibility.
