Banks Take On Telcos In M-Commerce With Paylib


Three French banks have unveiled a new electronic wallet service allowing their customers to make one-click online payments from a broad array of connected devices. Developed by BNP Paribas , Société Générale and Banque Postale , Paylib is supported by eight leading French e-commerce sites, potentially exposing the application and the banks to tens of millions of online shoppers. BMI welcomes the direct participation of banks in the e-commerce value chain as it not only entitles them to a greater share of sales commissions but enables them to cross-sell a wider variety of financial services directly to consumers.

Prospective customers need to register their interest in using Paylib via their bank's website or dedicated mobile banking application by providing an e-mail address and password, plus a unique codeword that will validate online payments. Online retailers, many of whom already support the world's largest electronic payments systems, such as PayPal , will promote Paylib along with other payment options. The service will be free to end-users.

Online retailers supporting the service at launch include Voyages-sncf.com , ventes-privees.com , Priceminister , Showroomprive and Leroy Merlin . These named retailers recorded almost 30mn unique visitors per month in Q113 according to e-commerce trade association Fédération e-commerce et vente à distance ( FEVAD ) , citing data from Mediametrie. Meanwhile, the three banks serve a combined retail customer base of around 23mn and are slowly building individual mobile banking businesses.

M-Commerce Clicks With French Consumers
E/M-Commerce Sales Per Annum (EURbn)

or Register now for free to read the full article

This article is tagged to:
Sector: Telecommunications
Geography: France

Related products in our Store...

Check out our most popular reports below or view more in our store