A new e-commerce platform now operational in Madagascar

Apr 25, 2013

Malagasy banks BFV société générale et BMOI have partnered with Visa and DHL to develop the first e-commerce platform in Madagascar.

Malagasy banks BFV société générale et BMOI have partnered with Visa and DHL to develop the first e-commerce platform in Madagascar.

The new service, called Packyellow, allows users to make purchases on the internet and pay online with a Visa card - "an easy to use and perfectly safe payment facility," BFV société générale's head of communication Vololona Razemera told L'Express de Madagascar.

"Through this partnership with DHL – creating the first e-commerce platform in Madagascar – we want to serve more clients, both consumers and professionals," he added.

Access to banking services has improved in recent years in Madagascar, as the arrival of mobile banking helped reaching isolated populations.

The operator Telma has offered its mobile money transfer service Mvola since 2010 and Airtel Money's mobile banking service has been available since February 1st through 170 post offices in Madagascar.

But the potential for financial services development remains high on the island, with bank account holders only representing about five percent of the population.ADNFCR-2976-ID-801577006-ADNFCR