Against a backdrop of sustained growth in e-commerce and an increase in purchases being made from new types of screen, including smartphones and touchscreen devices, the three French mobile operators and Atos Origin, through electronic transactions and secure payments company Atos Worldline, have pooled together their expertise in telecoms and payment to launch this new service.
The new solution is being backed by major online retailers in France, including Aquarelle, Brandalley, Darty and Rue du Commerce.
The JV has been created against the background of the Single European Payment Area and, in particular, the Payment Services Directive (PSD), which provides the legal foundation for the creation of an EU-wide single market for payment.
The regulatory environment is supportive of new players entering the payment market and the partners behind Buyster believe that their combination of mobile communications and e-commerce expertise will present a strong offer to consumers and online merchants.
The aim of the company, whose payment institution licence is still being requested from the Banque de France, is to develop, operate and market the Buyster payment facility in France. The Buyster service will be offered through the JV’s mobile telephony partners, which together account for over 50 million consumers. Buyster is set to target online merchants, capitalizing on the market presence of partners such as Atos Worldline.
Buyster, a development of the range of payment offer from mobile operators
The JV recognizes the central role of mobile phones in improving ease of use and strengthening the security of online payments. Buyster enables mobile operators to supplement their existing remote payment services by addressing the market for online-macro payments, complementing existing “kiosk” offers (Internet+, MPME) which enable goods and digital services to be paid for by adding small amounts directly to the telecom bill.
For consumers, Buyster aims to provide a secure, more practical payment service adapted to new practices for fixed and mobile internet
Registering to Buyster enables consumers’ bank cards to be linked to their cell phone numbers in a secure way. It is free of charge and available to any cell phone user, irrespective of operator.
In order to make online purchases, users will need to provide their cell phone numbers and confidential Buyster codes.
Additional to the online stores of mobile operators, major players in the French e-commerce sector have confirmed that they will offer Buyster as one of their payment methods from the moment it becomes operational. These include Aquarelle, Brandalley, Darty and Rue Du Commerce.
