Monday, June 28, 2010

Societe Generale Introduces Mobile Banking In Senegal

Financial service group, Societe Generale, in partnership with Obopay, a leading mobile banking and payment provider, have launched a new mobile banking service in Senegal for anyone with access to a mobile phone.
The service christened “Yoban’tel by Obopay”, is a carrier-agnostic, mobile money transfer and bill payment service that is available to all the people of Senegal with a mobile phone. Using SGBL’s wide spread branch network in the country and other dedicated outlets, users can enrol for a mobile payment service and load or pick up cash throughout Senegal. They can also use the service to send money to anyone throughout the country, or to pay a bill.

“In Senegal, traditional banking services are typically very limited; people can spend an entire day each month standing in line to pay for things like their utility services in cash,” said Richard Hababou, managing director of Societe Generale Innovations Group. “Yoban’tel by Obopay allows us to establish innovative and convenient mobile money transfer and payments for those Senegalese who have previously not had access to such services.”

“Partnering with one of the world’s leading banks, Societe Generale, enables them to put mobile money at the heart of their accounts,” said Obopay CEO Carol Realini. “Their reach will bring new mobile money access to millions. Furthermore, this latest offering extends our experience in meeting the needs of four different sets of regulatory environments and market dynamics – including the US, India, Kenya and now Senegal – and gives us the expertise, robust platform and service offering needed to expand into new markets very quickly.”

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