30 September 2016
Visit dh.com

French telcos form e-payment JV

03 February 2011  |  10943 views  |  0 add to basket

French telcos Bouygues Telecom, Orange and SFR have teamed with vendor Atos Origin to form a joint venture company which uses mobile phone numbers in place of plastic card details for online shopping.

The rivals are planning to take advantage of the European Payment Services Directive (PSD) to launch Buyster in the middle of this year, although the Banque de France has yet to grant a payment institution licence.

Each of the four Buyster partners will own a quarter of the new venture, which starts out with EUR2.8 million in capital and a staff of 15.

Major online retailers in France, including Aquarelle, Brandalley, Darty and Rue du Commerce have already backed the new offering, which will be marketed through the participating telcos to their 50 million customers.

The new venture is being launched against a backdrop of an ever-growing e-commerce market and the rise of buying through smartphones and tablets. In a statement, the group says it "recognises the central role of mobile phones in improving ease of use and strengthening the security of online payments".

Customers will be able to sign up to the service for free, linking their bank cards to their mobile phone number. This means that to make online purchases, the users will no longer need to provide their card details, just their phone number and a confidential Buyster code.

Eric Gontier, CEO, Buyster: "Thanks to this alliance, we are setting out our ambition to become a key player in e-commerce payment and the leading company in France for m-commerce; a market with strong potential. Over the next five years, we are counting on a share of the m-commerce market representing 10% of the turnover for e-commerce with an estimated amount of just over EUR6 billion."
KeywordsE-COMMERCE

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

Orange plans large-scale NFC roll-out

Orange plans large-scale NFC roll-out

20 December 2010  |  12649 views  |  0 comments
MasterCard makes e-commerce push with £333m DataCash acquisition

MasterCard makes e-commerce push with £333m DataCash acquisition

19 August 2010  |  12768 views  |  0 comments
PayPal partners Singapore govt for m-commerce drive

PayPal partners Singapore govt for m-commerce drive

16 June 2010  |  7873 views  |  0 comments
Visa agrees $2bn CyberSource acquisition

Visa agrees $2bn CyberSource acquisition

21 April 2010  |  12182 views  |  0 comments
BNP Paribas and Oberthur to turn Nice into NFC city

BNP Paribas and Oberthur to turn Nice into NFC city

18 November 2009  |  8817 views  |  0 comments | 1 tweets
Consumers ready for m-commerce

Consumers ready for m-commerce

19 May 2005  |  7770 views  |  0 comments
M-commerce market to grow to $40bn by 2009

M-commerce market to grow to $40bn by 2009

06 October 2004  |  8607 views  |  0 comments

Related company news

 

Related blogs

Create a blog about this story (membership required)
Find out moreFind out moreVisit colt.net

Who is commenting?

Top topics

Most viewed Most shared
Ripple rudely gatecrashes Sibos partyRipple rudely gatecrashes Sibos party
10537 views comments | 32 tweets | 30 linkedin
Swift beware: Ripple signs banks to global payments steering groupSwift beware: Ripple signs banks to global...
9330 views comments | 33 tweets | 18 linkedin
BNP Paribas is working with clients on blockchain deploymentBNP Paribas is working with clients on blo...
7698 views comments | 15 tweets | 31 linkedin
US gets same day ACHUS gets same day ACH
7071 views comments | 23 tweets | 20 linkedin
PayPal and Lenovo team on biometric authentication for laptopsPayPal and Lenovo team on biometric authen...
6754 views comments | 13 tweets | 16 linkedin

Featured job

Find your next job