Tunisia’s fintech ecosystem is becoming more advanced, but its growing dependence on physical cash is creating a major adoption challenge.
Cash circulating outside the banking system reached a record TND27.5 billion, around $9.6 billion, in February 2026. That was approximately 20% higher than a year earlier, according to the analysis.
The country has several foundations for a stronger fintech sector, including a highly educated technology workforce, established banks, a Startup Act introduced in 2018 and a regulatory sandbox operated by the Central Bank of Tunisia. The wider Startup Tunisia programme also includes a fund-of-funds initiative targeting up to €200 million across more than 13 venture funds.
Local companies including Flouci, Konnect and Paymee are building digital payment products for consumers, freelancers, SMEs and larger businesses. Their services include payment links, gateways, APIs and e-commerce integrations, with support for Tunisian and international cards as well as e-Dinar products.
However, tighter rules around cheques have pushed some consumers and businesses towards cash rather than electronic alternatives. This reduces deposits available for lending and makes economic activity harder to formalise.
Tunisia’s 2025-2026 digital transformation programme includes 138 projects, covering public administration, artificial intelligence, skills and e-commerce. The country’s mobile e-Houwiya digital identity could also support wider adoption of online financial services.
The analysis argues that Tunisia’s next step is to connect fintech with digital government, identity and e-commerce, helping move more of the economy away from cash.
Source: The Fintech Times
