New Law on Checks: Tunisian Banks Adapt by Offering Visa Payment Facilities
With the new law regulating checks, certain banks have chosen to adapt their services and offer payment facilities via Visa cards. In Tunisia, checks were often used to settle payments in installments.
Now that the law prohibits post-dated checks, four banks have proposed the option to schedule monthly bank transfers through credit cards with deferred debit. This programming depends on the conditions specified by the bank to its client, including the regularity of the account.
All Tunisian banks are expected to generalize this option to avoid slowing down consumer spending and harming merchants. It's worth noting that only 36% of Tunisians have current accounts, and the informal economy accounts for 50% of Tunisia's GDP.
