Following the Bank Al-Maghrib (BAM) directive published on September 25, 2024, which now caps the domestic interchange rate at 0.65%, the Interbank Electronic Payment Center (CMI) was forced to align.
In a press release, the Interbank Monetary Center (CMI) announces that it has considerably reduced commissions on local bank card payments for the benefit of more than 55,000 merchants, in particular those using its acceptance services such as electronic payment terminals, online payment solutions and Tap to Mobile, in order to support them by offering them more advantageous pricing conditions, while encouraging the growing adoption of electronic payments. This price revision took effect on October 1, 2024.
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The CMI assures that this measure will allow merchants to immediately benefit from more competitive transaction costs, thus contributing to the development of their activities. According to the regulations in force, it is prohibited to pass on commission costs to customers and to impose a minimum amount (50 or 100 DH) to accept a payment by card is prohibited, recalls the center.
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The CMI aligned itself with the Bank Al-Maghrib (BAM) directive published on September 25, 2024, which now caps the domestic interchange rate at 0.65%, before making a significant reduction in commissions on payments by local bank card. This decision by the central bank “redefined the terms of interchange rates applicable to domestic transactions. […] 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,” says Rachid Saihi, its general director.
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