Wallet: Further Diversification for Monext

At this year’s Paris Retail Week, Monext –subsidiary of Crédit Mutuel Arkéa focusing on payment processing activities– went over their currently available solutions and ongoing projects. Monext will (soon) be launching a new wallet, designed in partnership with the retail player Système U. They will also include two new payment methods.

When landing in France, Google Pay and Samsung Pay will be made available via Monext. They will then be added to Apple Pay as well as Paylib, Amazon Pay, PayPal, Lydia, and many others. The idea is to optimise customer processes while enabling merchants to boost their sales, especially on mobile devices.

Meanwhile, Arkéa’s PSP Payline will be rolling out a new wallet called “U Paiement”, with Système U. This solution combines payment and loyalty tools (loyalty card, coupons, receipts, etc.).

This service is a perfect fit for this group, considering their “phygital” strategy and intent to focus on customer processes and relation. Monext will be demonstrating this solution during a workshop at U Enseigne.

Comments – Focus on phygital commerce: a new paradigm for the retail sector

According to RetailMeNot assessments, reported by the l’Observatoire du commerce mobile, more than two third of the customers do check their mobile phone when purchasing items in-store. These new habits are leading the retail to enter transformation phases. Some would craft their own PoCs, others (Système U, for instance) rely on start-ups. Their goals stay the same: driving traffic in stores, increasing sales and improving customers’ experience and commitment.

Monext enjoys a certain dynamism in the e-commerce sector, even claiming 40 % market shares in the market for e-payments. And they focus on both physical and digital environments. This explains why they are developing mobile payment solutions for merchants and the retail sector (as is the case with Système U): this channel stands out as a major growth lever.