Tunisian Businesses Encouraged to Adopt TuniChèque Platform for Secure and Efficient Transactions
The Tunisian Banking and Financial Council (CBF) and the Tunisian Union of Industry, Commerce, and Handicrafts (Utica) are urging businesses to join the TuniChèque platform, dedicated to check transactions. The employers' union is calling on its members to be patient and committed to this transition, in order to fully benefit from the security and efficiency advantages offered by this system for commercial transactions.
To support this transition, the CBF has set up dedicated assistance for bank customers, including Utica members, and personalized training sessions to help them master the new check processing procedures.
However, if we cross-reference these statistics with the declining number of checks, it becomes clear that businesses have not found the same benefits in the new formula as they did with the previous payment method. The problem is that they will not find these utility functions in any other payment method, including the letter of credit.
Multiple attempts are being made to improve the regulation of the letter of credit and endow it with some of the characteristics of the old check. While the letter of credit can be accepted by businesses that know each other in the B2B world, it can only cause dysfunctions in the B2C sector. How can one verify that the letter of credit does not have any formal defects? Should it be legalized at the municipality and signed with a debt acknowledgment? Is this practical for a boutique selling household appliances, smartphones, or children's clothing? How can sales be made during weekends, the peak commercial activity period? There are technological solutions to all these questions, and the banking system is capable of providing them. Will businesses agree to adopt them? That's another story, but one that will soon be debated.
