Casablanca – Morocco has completed a major overhaul of its electronic card payment market, marking the end of the long-standing single-operator model and introducing a more competitive framework designed to expand digital payments, lower merchant costs, and encourage broader financial inclusion.

The reform, implemented through coordinated measures by Bank Al-Maghrib (BAM) (Morocco Central Bank) and the Competition Council, represents one of the most significant structural changes to the country’s payment ecosystem in recent years. Authorities say the transition has successfully opened the merchant acquiring market to multiple licensed payment providers while maintaining uninterrupted payment services and preserving the security and reliability of the system.

The two institutions announced that a series of coordination meetings held under their institutional partnership concluded that the implementation of the reforms has produced satisfactory results. According to the joint statement, the changes are intended to create a more competitive payment environment that benefits merchants, consumers, payment institutions, and the broader digital economy.

The reform process stems from Competition Council Decision No. 152/2024, issued on October 31, 2024, which made legally binding a set of commitments undertaken by the Interbank Electronic Banking Center (CMI) and its shareholder banks. The decision required CMI to gradually withdraw from the merchant acquiring business—responsible for providing businesses with card payment acceptance services—and paved the way for new licensed operators to enter the market under a defined implementation timetable.

As part of the transition, CMI was prohibited from signing contracts with new merchants beginning November 1, 2024. Existing merchant contracts were transferred to competing payment institutions according to a phased schedule, with private-sector contracts completed by January 31, 2026, followed by public-sector contracts by April 30, 2026.

While ending its role as the sole merchant acquirer, CMI continues to serve as a payment processing platform. The Competition Council’s decision guarantees licensed payment institutions access to the company’s technical infrastructure under fair, transparent, and non-discriminatory conditions, allowing multiple operators to process electronic payments while relying on shared payment infrastructure.

Bank Al-Maghrib played a central role in supporting the transition by working closely with both newly licensed payment institutions and companies that were already active in the sector. The central bank supervised the rollout of merchant acquiring services by these institutions while ensuring compliance with regulatory requirements governing cybersecurity, operational resilience, service continuity, and the overall reliability of electronic payment systems.

Alongside the structural reforms, the authorities introduced new pricing measures aimed at reducing the cost of accepting electronic payments for merchants.

Under Bank Al-Maghrib Decision No. 265/W/2026, adopted on July 6, 2026, the maximum interchange fee applied to domestic card payment transactions will be reduced from 0.65% to 0.50%. The new ceiling is scheduled to take effect on October 1, 2026.

The decision also introduces a preferential interchange fee cap of 0.15% for payments involving government entities and neighborhood retail businesses. The lower rate is intended to encourage wider use of electronic payments in public services and among small local merchants, where transaction costs can represent a greater obstacle to digital payment adoption.

According to the two institutions, lowering interchange fees is expected to reduce merchant acquiring commissions charged to businesses that accept card payments. Lower processing costs could make electronic payment acceptance more attractive, particularly for small and medium-sized enterprises, while supporting the continued expansion of Morocco’s digital payment ecosystem.

The reforms also represent a significant change in the organization of Morocco’s payment market. Under the previous system, merchant acquiring activities were concentrated under a single operator. The new framework replaces that structure with a multi-acquirer model, allowing several licensed payment institutions to compete in offering payment acceptance services to merchants.

Authorities say the transition has been completed without disrupting payment services. At the same time, the introduction of multiple acquiring institutions is expected to diversify the range of payment products and services available to businesses while encouraging greater competition in pricing and service quality.

The Competition Council and Bank Al-Maghrib view the reforms as part of broader efforts to modernize Morocco’s financial infrastructure and strengthen financial inclusion. Expanding access to secure and affordable electronic payment solutions is considered an important element of the country’s wider digital transformation strategy, particularly as digital commerce and cashless transactions continue to grow.

The two institutions emphasized that market liberalization has been accompanied by regulatory oversight designed to preserve system stability and consumer confidence. Payment institutions remain subject to strict operational standards covering transaction security, business continuity, technological reliability, and risk management.

Officials also stressed that opening the market to competition does not diminish the importance of maintaining common technical standards across the payment ecosystem. Continued access to CMI’s processing platform is intended to ensure interoperability between market participants while preventing barriers to entry for new operators.

Looking ahead, Bank Al-Maghrib and the Competition Council said they will continue to monitor developments in the electronic payments market through their institutional cooperation, with each authority exercising its respective regulatory responsibilities. Their ongoing oversight will focus on ensuring that competition develops under fair conditions while maintaining secure and efficient payment services.

The two institutions added that future monitoring will also seek to facilitate broader access for both citizens and merchants to electronic payment solutions that are secure, reliable, and available at competitive costs. By combining greater market competition with continued regulatory supervision, the authorities aim to support the long-term development of Morocco’s digital payments sector and encourage wider adoption of electronic transactions across the economy.