LThe CMI’s decision comes following Bank Al-Maghrib’s directive published on September 25, 2024, which now caps the domestic interchange rate at 0.65%.
Indeed, from October 1, the CMI applied a significant reduction to all merchants affected by this price revision, in particular those using its acceptance services such as electronic payment terminals, online payment solutions and Tap to Mobile. This reduction will allow merchants to immediately benefit from more competitive transaction costs, thus contributing to the development of their activities.
The CMI reminds all its traders that it is strictly prohibited, according to current regulations, to pass on commission costs to customers. In addition, the imposition of a minimum amount (50 or 100 DH) to accept a payment by card is strictly prohibited.
The CMI aligns with new rules to boost financial inclusion
The CMI welcomes the initiative of Bank Al-Maghrib which, through this decision, redefined the terms of interchange rates applicable to domestic transactions. The CMI is fully part of this common desire to promote financial inclusion and strengthen the electronic payment ecosystem in Morocco.
“We are delighted with this development. Thanks to these adjustments, we will be able to strengthen our investments in payment infrastructures and continue to offer ever more competitive and innovative solutions to our merchants”declares Rachid Saihi, director general of the CMI.
For more than twenty years, CMI has supported its merchants by offering them reliable, secure and innovative electronic payment solutions. “We will continue to support them in their development projects, while constantly improving the quality of our services”adds Rachid Saihi.
The CMI remains determined to play an active role in the modernization of commerce in Morocco, while developing payment solutions adapted to market needs, like the Soft POS solution launched in 2024.
It will continue its innovation and collaboration efforts with its current and future partners and customers to offer a smooth and optimized payment experience to merchants and their customers.
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