French operators, Atos form Buyster e-payment venture

News Broadband France 3 FEB 2011
French operators, Atos form Buyster e-payment venture
French-headquartered IT services group Atos Origin has formed a joint venture with the country's three MNOs, Orange, SFR and Bouygues Telecom, to develop an internet payment platform to take on PayPal, Google and Apple. Each partner will own a quarter of Buyster, which starts out with EUR 2.8 million in capital and originated in the Mobile Network Operator Payment (MNOP) project launched in May 2010. Buyster's 15-strong staff is headed by former Vertfone consultant Eric Gontier. The new company will apply with the central bank to become a registered payment service provider and aims to launch commercially before the summer. The new service will allow consumers to pay for goods and services online from any terminal, including computers, smartphones, tablets and connected TVs. It will use any mobile phone for ID and password entry. Payment can only be authorised by entering a code sent via SMS. Buyster hopes to become France's biggest m-payment and second-biggest internet payment service, Gontier said. He expects the country's e-commerce market to be worth EUR 60 billion in 2015, with 10 percent from mobile purchases. National distance selling association Fevad reported 24 percent e-commerce growth to EUR 31 billion last year.

Categories:

Internet,  Mobile

Companies:

Bouygues Telecom,  Orange,  SFR,  Atos Nederland,  Buyster

Countries:

France

Tags:

e-Payment, Launch, Start-up, Wireline, Wireless, M&A buyouts & divestments

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