Ingenico partners with Finada for microfinance programme in Benin

Promoting financial services through new technology in Benin

Ingenico is partnering with Finada, a Beninese microfinance institution created in 2010, to promote financial services through new technology in the country (view press release). The partnership aims to launch activities in Benin, and other French speaking African countries such as Togo and Mali, to provide banking solutions for the unbanked. The agreement follows proposals drawn up by the Migration and Development Fund, an AfDB fund (African Development Bank) in partnership with the French government, the IFAD (International Fund for Agricultural Development) and the USID (United States Agency for International Development).

Through the agreement, Ingenico is providing a terminal and software solution with biometric identification that facilitates electronic transactions, deposits and withdrawals, bill payments and refunds, transfers and phone top ups. The project is a first in Benin and aims to reach a population of 2 million people by deploying Ingenico EFT930G Bio terminals in major shopping centres, pharmacies, service stations, electricity and water board offices and microfinance institutions. Implementation of the programme is expected to last until 2014.

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