Categories: Tech

Societe Generale partners with American Express in Africa

The agreement involves both online sales and POS payments through electronic payment terminals

Societe Generale announces that it has signed a merchant acquiring partnership with American Express in eight countries in Sub-Saharan Africa where the Bank operates. These countries include Benin, Burkina Faso, Cameroon, Chad, Guinea, Ivory Coast, Madagascar and Senegal.

The agreement involves both online sales and 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 Societe Generale.

This is an opportunity for the Societe Generale Group to be more competitive and to grow its presence in Sub-Saharan Africa. Its subsidiaries can also expand their POS service offering through secure multi-network acquiring.

Societe Generale des Banques en Côte d’Ivoire (SGBCI), Societe Generale’s subsidiary in Ivory Coast, is

the first to offer the service in the region, before it is 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.

Commenting on the partnership, Alexandre Maymat,

Head of the Africa region at Societe Generale, said: “We are pleased to enter into this agreement to offer merchants in West Africa the ability to accept American Express. It will allow us to better serve our clients as well as acquiring new corporate customers, and it will also strengthen the bank’s footprint in the region.”

Andrew Stewart, Vice President and General Manager, Bank Partnerships, at American Express said: “We are delighted to partner with Societe Generale, one of the top international banks operating in Africa, to expand the scope and reach of the American Express brand. This new partnership will grow our merchant network in Sub-Saharan Africa, and will benefit American Express Card members in Africa, as well as those visiting the continent. Sub-Saharan Africa has high potential for economic growth, and this new partnership presents a number of unique and exciting growth opportunities.”

Innov8tiv.com

Innov8tiv is a dynamic Web source for technology news, resources and innovation, with a special focus on the entrepreneurial advances of Africans on the continent as well as in the Diaspora. This site seeks to not only inform consumers and companies about the latest in tech trends and ideologies, but to shed light on a phenomenon often ignored: the inventive, life-changing and creative engine that exists in Africa and among leaders of color around the world, including the UK, the Caribbean, Australia, and Asia. Send story ideas to info@innov8tiv.com

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