Transforming Morocco’s Electronic Payment Market

The Moroccan market for electronic card payments continues its transformation. In a joint statement released on July 10, Bank Al-Maghrib (BAM) and the Competition Council provided a positive assessment of the reforms initiated since 2024, noting that implemented measures have opened the sector to competition, reduced costs for merchants, and promoted the development of electronic payments.

Both institutions emphasize that the commitments made by the Interbank Monetary Center (CMI) and its shareholder banks have played a crucial role in modernizing the market while supporting the Kingdom’s financial inclusion objectives.

Ending the Monopolistic Acquisition Model

The sector transformation stems from a decision made by the Competition Council on October 31, 2024, which mandated the CMI to restructure the monetary acquisition market.

As part of this restructuring, the Interbank Monetary Center ceased to seek new merchants starting November 1, 2024. It also began the gradual transfer of its contract portfolio to other operators according to a timeline set by the authorities, with private contracts expected to be finalized in early 2026, followed by public contracts a few months later.

Simultaneously, the CMI continues to serve as the technical platform for processing transactions while ensuring equitable, transparent, and non-discriminatory access to all payment establishments.

Bank Al-Maghrib Supports New Players

For its part, Bank Al-Maghrib has assisted newly licensed payment institutions and existing operators to facilitate their market deployment.

The central bank has ensured compliance with standards related to payment security, service continuity, and reliability of infrastructures, aiming for a seamless transition for both merchants and consumers.

Reducing Fees to Stimulate Electronic Payments

Authorities also highlight advancements in pricing structures.

After capping interchange fees at 0.65% in 2024, Bank Al-Maghrib has decided to reduce this cap to 0.50%, a measure set to take effect on October 1, 2026.

Furthermore, the central bank is introducing a preferential cap of 0.15% for payments made to public administrations and for transactions conducted in local commerce.

This evolution is expected to lower costs for merchants and encourage broader adoption of electronic payment solutions.

A More Open and Competitive Market

According to Bank Al-Maghrib and the Competition Council, all these reforms have successfully transitioned the market to a multi-merchant model, allowing for the entry of new operators, diversification of offerings, and improved quality of services provided to merchants and consumers.

Both institutions reaffirm their commitment to continue monitoring this strategic market to ensure healthy competition, encourage innovation, and facilitate wider access to secure, accessible electronic payment methods offered at competitive prices.