Retail Payment Systems
In the OIC Member Countries
63
Mobile Payment Providers
Two large banks BICICI (BNP Paribas) and Societe Generale (SGBCI) are currently involved in
mobile payment systems as bank partners for MNOs Orange and MTN respectively. They hold
the mobile money issuer license and are responsible for the financial and KYC reporting.
However, they merely manage the float and receive agent commissions, and offer little or no
value added services to the customers of their mobile payment systems partners.
Caisse d’Epargne, a state-owned bank which has the largest branch network, has a social
mandate to increase the number of unbanked and is developing a mobile payment systems
solution called Bankcell, powered by GIM-Mobile to fulfil that mandate. In addition,
microfinance institutions such as Microcred are slowly exploring opportunities around
becoming mobile payment systems agents and leveraging this platform to enable credit
repayments.
There is generally a lack of information about the target market for mobile payment systems
and what products or solutions would address specific needs of this market. This means that
banks and microfinance institutions are unsure of how to position themselves in this space and
most importantly, how they can make money beyond commissions and earnings on float.
Summary
The Ivory Coast holds the unique position of having very limited banking services and a small
banked population but the means and interest to introduce new retail payment systems. The
full range of possibilities are apparently open and the government has taken the initiative both
to provide a mandate to the state-owned Caisse d’Epargne and to initiate regulations for
mobile money. This has provided the platform upon which local, regional and foreign (mostly
French-lined) companies have begun operations. As the economy improves the diffusion of
these services is likely to increase.