The e-commerce sector in Benin, Burkina Faso, Cameroon, Chad, Guinea, Ivory Coast, Madagascar and Senegal has been boosted by a new partnership signed this week between France’s Société Générale and American Express.
Reports from Paris said that the deal would involve both online sales and point of sales (POS) payments through electronic payment terminals. This means that any retailer wishing to accept payments from American Express Card members can now sign a contract with Société Générale.
This is an opportunity for Société Générale Group to be more competitive and to grow its presence in Sub-Saharan Africa, the company said, adding that its subsidiaries could also expand their POS service offering through secure multi-network acquiring.
Société Générale des Banques en Côte d’Ivoire (SGBCI), Société Générale’s subsidiary in Ivory Coast, is the first to offer the service in the region. The service will be rolled out in the seven other countries before the end of 2016.
This will enable the group to strengthen its unique positioning as a universal bank combining the advantages of a strong local presence with the expertise of a major international bank.
“We are pleased to enter into this agreement to offer merchants in West Africa the ability to accept American Express,” Alexandre Maymat, Societe Generale Africa head, said in a statement.
“It will allow us to better serve our clients, acquire new corporate customers, and in the process strengthen the bank’s footprint in the region.”
Andrew Stewart, V-P and GM for bank partnerships at American Express, said: “We are delighted to partner with Société Générale, one of the top international banks operating in Africa.
“The deal will help expand the scope and reach of the American Express brand, grow our merchant network in Sub-Saharan Africa, and ultimately benefit American Express Card members in Africa, as well as those visiting the continent.”
(APO, final editing by Issa Sikiti)