Ingenico, an electronic payment solutions company based in France, has partnered with Finada, a Beninese microfinance institution (MFI), in an effort to offer banking services such as deposits and bill payment through Ingenico terminals at shopping centers, pharmacies and gasoline stations. Ingenico is in the process of developing a software solution that facilitates the service while meeting applicable local regulations. The organizations foresee launching similar activities in Mali, Togo and other French-speaking countries in Africa after the Benin project is underway.
Finada was founded in Benin in 2010; financial data on the organization are not available. As of 2010, Ingenico has 3,600 employees and revenue of EUR 907 million (USD 1.1 billion).
By Brett Cohen, Research Associate
About Finada
Founded in 2010, Finada is a microfinance institution based in Benin. Financial information on Finada is not available.
About Ingenico
Ingenico SA is an electronic payment solutions company based in France that reports 3,600 employees in 125 countries. In 2010, it had total revenue of EUR 907 million (equivalent to USD 1.1 billion).
Sources and Additional Resources
Ingenico.com press release: “Ingenico partners Finada on Benin microfinance programme”
http://www.ingenico.com/es/media_center/press_releases/ingenico-is-devel…
MicroCapital.org Brief, August 6, 2010, “Ingenico SA of France Takes Majority Stake in Remittance Provider TransferTo”, https://www.microcapital.org/microcapital-brief-ingenico-sa-of-france-tak…
MicroCapital.org Brief, May 11, 2010, “Shaka Mobile and TransferTo Launch Service Facilitating Cross-Border Mobile Money Transfers”, https://www.microcapital.org/microcapital-brief-shaka-mobile-and-transfer…
MicroCapital.org Universe Profile: Ingenico
https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Ing…
Browse the MicroCapital Universe and add your entry to the wiki at https://www.microcapital.org/microfinanceuniverse/
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