BCP and Tangier Med revolutionise the port sector with innovative payment solutions

The Banque Centrale Populaire (BCP) and the Tangier Med Port Authority (TMPA) have taken an important step towards the modernisation of the port sector in Morocco by signing a memorandum of understanding for the development of technological payment solutions applied to the port sector. The main objective of this agreement is to boost efficiency in payment processes, through the use of advanced technologies and integration into the Blockchain platform of the Port Community System of Tangier Med.

The implementation of payment solutions in the port sector is a key step to improve competitiveness in the sector, as well as to ensure a satisfactory user experience. In this sense, the partnership between BCP and TMPA is a clear example of how collaboration between different sectors and entities can lead to innovative and efficient solutions. 

Blockchain technology is a decentralised database that immutably records transactions and events that occur in a network. This technology is known for its ability to provide faster and more secure transitions.

In the case of the port sector, Blockchain technology can provide greater transparency in payment processing, which can improve efficiency and reduce processing time and costs. The technology can also provide greater security by tracking and validating transactions and preventing fraud. 

Blockchain has gained ground in various sectors, including the port sector. In this context, the Banque Centrale Populaire (BCP) and the Tangier Med Port Authority (TMPA) have signed an agreement to develop payment solutions based on Blockchain technology, tailored to the needs of the port ecosystem and enabling port users, suppliers and other stakeholders to benefit from the advantages of this innovative technology.

The agreement between BCP and TMPA represents an opportunity to explore the contributions of Blockchain and new technologies in general to the excellence and competitiveness of the port system. As Kamal Mokdad, CEO of BCP and International, said, this collaboration will enable both parties to enhance the experience of players in the port ecosystem through innovative solutions to simplify and streamline the associated payment operations. 

For his part, Hassan Abkari, CEO of TMPA, highlighted that Tangier Med has already developed functionalities based on Blockchain technology and integrated into its Port Community System, covering all stakeholders in the port, from the shipping line to the final importer. This new collaboration with BCP represents an opportunity to further enhance its offer and complete the range of services developed around its Blockchain, for a better automation and security of the documentary and financial flows generated by import and export operations. 

The collaboration between BCP and TMPA to develop payment solutions applied to the port sector using Blockchain technology is an example of how innovation can help improve efficiency and security in payment processing in the port sector. The integration of Blockchain-based solutions in the platform of the Port Community System of Tangier Med will allow all stakeholders to benefit from the advantages of this technology, especially in terms of efficiency, transparency, security and cost reduction. Moreover, it represents an opportunity to explore the undeniable contributions of Blockchain and new technologies in general in favour of the excellence and competitiveness of the port system.