YUP, an alternative banking model
|What is YUP?|
YUP is a mobile money solution for accessing a full range of transactional and financial services even without a bank account.
Based on an Agency Banking model, i.e. a network of third-party agents with whom the bank has formed partnerships (service stations, distribution trade, etc.), YUP is accessible via an expanded network of distributors equipped with adapted terminals and, of course, via the mobile banking app of Societe Generale's different banks throughout Africa. With YUP, Societe Generale is widely available, local, and easy to use, to meet the needs of customers who have, until now, not been offered or have access to many banking solutions.
Who is YUP for?
YUP is for customers with or without bank accounts. YUP is for anyone with a mobile phone (smartphone or traditional mobile phone), no matter which telco they use, thanks to the partnership with Tagpay. Tagpay is a French fintech in which Societe Generale is a shareholder. It developed NSDT contactless authentication technology, which is innovative and more intuitive for users than existing solutions on the market.
YUP's customers can withdraw, deposit, and transfer money, pay bills, buy phone credit, and make payments to merchants. The YUP solution also digitises corporates' payment flows.
Deployed in Côte d'Ivoire and Senegal in 2017, YUP is also present in Burkina Faso, Cameroon, Guinea, Ghana and Madagascar as of November 2020.