(Business in Cameroon) - The French banking group Société Générale (SG) announced on 30 November 2016, having signed a merchant acquiring partnership with American Express, an American financial company specialised in payment options. This partnership covers eight countries where the bank operates, including Cameroon.

Through this partnership, “involves online retail as well as point of sale payment through electronic payment terminals (EPT)”, we learned in an official communiqué, “any retailer wishing to accept payments from American Express Card members can now sign a contract with Société Générale”.

According to the management of SG, this partnership is “an opportunity for the group” and its Cameroonian branch, “to be more competitive, acquire new customers, and increase its revenues by offering a new payment tool to its clientele”.

“This new partnership will give us the opportunity to grow our merchant network in Sub-Saharan Africa, and enable us to increase the number of American Express Card members in Africa as well as those visiting the continent. Sub-Saharan Africa has high potential for economic growth, and this new partnership represents an unique and exciting growth opportunity”, commented Andrew Stewart, Vice-President and General Manager, Bank Partnerships at American Express.

BRM