Bank of Morocco Adjusts Electronic Payment Fees
In a significant move aimed at fostering a more user-friendly electronic payment landscape, Bank of Morocco has announced a reduction in the general interchange fee for local electronic transactions from 0.65% to 0.50% (excluding tax), effective from October 1, 2026. This regulatory decision, identified as regulation number 265/W/2026, underscores the central bank's commitment to enhancing the efficiency of digital payments in Morocco.
Additionally, a specific ceiling of 0.15% (excluding tax) has been established for e-Government services and transactions conducted with local merchants. The central bank emphasized that these interchange fees are a critical component of the acquisition fee that merchants pay for accepting card payments, reiterating that such fees should not be passed on to customers. This ensures that the burden of these fees remains with the merchants, regardless of the payment method or channel used.
Furthermore, the new regulation aims to bolster transparency in the relationship between payment institutions and merchants. It mandates that payment institutions must include detailed fee structures within contracts with merchants and clearly display accepted payment methods at points of sale. This initiative is anticipated to enhance consumer trust and streamline the electronic payment process across the nation.
As reported by alayam24.com.
