TagPay helps banks to develop their footprint in developing countries

Country: France

Year: 2005

Concept

  • TagPay is a french fintech that launched a cloud based banking solution for banks
  • The start-up enables cashless transactions and bank account management via mobile phones for bank’s final customers
  • The solution is mostly used in Africa where isolated areas are numerous and agency openings are too expensive for banks
  • TagPay also works with business customers to facilitate their invoice payments by using the online platform or by cash via an agent part of the TagPay network
  • In July 2016, Société Générale took 8% of TagPay shares for €1m to increase its footprint in Africa

Consumer Benefits

  • Universality: TagPay services are working on all mobile phones, from basic ones to smartphones. Customers can also access services via agents (shops…) of TagPay’s network
  • Security: cashless transactions, especially in countries where wages are often paid in cash
  • Tailored: TagPay’s platform is fully adjustable depending on customers needs

How It Works

  • Banks access the TagPay solution via cloud or with local hosting
  • Each bank client holding a mobile phone can access to its online wallet called mWallet
  • A wide range of services is offered as cash withdrawing through ATM or wages payments

Illustration