ET spoke with the 53-year-old journalist in London, England, on Monday, shortly after he interviewed the Duchess of Sussex's father via satellite on Good Morning Britain with Susanna Reid.
Morgan revealed to ET's Nischelle Turner that Markle was paid for the interview, though having this discussion "wasn't about the money."
"Well, it was a small amount of money, a few thousand pounds," Morgan said. "He was offered stratospherically lots more money by different media organizations. He could've made a lot more money doing what he wanted to do."
"It wasn't about money for him, you can tell that," he added. "The real motivation was setting the record straight, having his say."
Due to health complications, Markle unfortunately had to back out of walking his daughter down the aisle at her royal wedding to Prince Harry on May 19. Markle had a heart attack shortly after he was caught staging paparazzi photos in the weeks leading up to the nuptials. Prince Charles ended up doing the honors on wedding day, walking his now daughter-in-law down the aisle of the Quire of St. George's Chapel in Windsor, England.
"He's made some bad mistakes, my god, he's been punished for it," said Morgan, who described Markle as a "very decent, regular" guy. "As he said, it cost him, really, the trip to go walk his daughter down the aisle because all the stress and pressure from his own bad behavior boiled over and he couldn't get the flight."
"He was very keen in the interview to be very praiseworthy of Harry," Morgan continued. "He said, 'I like him, he's a gentleman and he protects Meghan, and I really value that.'"
Morgan also told ET that Markle revealed he has not yet had the chance to speak with Prince Charles, though he haschatted with Prince Harry. He expects that his daughter will have a child with the Duke of Sussex "soon."
Hear more highlights from Markle's Good Morning Britain interview in the video below.