Morocco’s central bank has lowered the maximum fee banks can charge for domestic card payments in a move designed to make digital payments cheaper for businesses and encourage more people to pay electronically instead of using cash. Bank Al-Maghrib has cut the interchange fee cap from 0.65% to 0.50% for domestic electronic payment transactions. It has also introduced a much lower cap of 0.15% for electronic government services and payments made at small neighbourhood shops.
The decision was announced in a directive sent to the Professional Group of Moroccan Banks (GPBM) on 8 July. The new rules will come into force on 1 October 2026, replacing regulations introduced in 2024.
The central bank said the measure aims to “encourage the use of digital payment methods and develop the Kingdom’s payment ecosystem.”
It also asked the GPBM to share the decision with member banks and ensure the new rules are applied and widely published as part of Morocco’s efforts to expand financial inclusion and electronic payments.
Interchange fees are paid between banks every time someone makes a card payment. Businesses usually end up covering these costs through merchant fees.
By lowering the fee cap, Bank Al-Maghrib hopes to make accepting card payments cheaper, especially for small businesses that often prefer cash because of their tight profit margins.
The biggest change is for small local shops and online government payments, where the interchange fee will now be capped at 0.15%.
For a business processing MAD 50,000 in digital payments each month, the maximum interchange fee would fall from MAD 325 to MAD 75, saving MAD 250 every month.
The move is part of Morocco’s National Financial Inclusion Strategy, led by Bank Al-Maghrib and the Ministry of Economy and Finance. The programme aims to increase access to financial services for people without bank accounts, women, rural communities and small businesses.
Morocco remains heavily dependent on cash, with cash in circulation accounting for more than 30% of the country’s money supply, one of the highest levels in the world.
Figures from the Centre Monétique Interbancaire show card payments have been growing at a double-digit annual rate. However, most bank card transactions are still cash withdrawals from ATMs rather than payments in shops.
The fee cut also supports Morocco’s wider push towards digital payments, including the Maroc Pay mobile payment system.
The lower fee caps are expected to reduce income from interchange fees for banks. However, they could help increase the number of electronic payments as more businesses choose to accept cards.
