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Case study: Widening banking access in Senegal

Case study: Widening banking access in Senegal

​​​Case study: Postefinance

PosteFinances launches PosteCash card to boost financial inclusion in Senegal


​>> Read case study in WSBI brochure



The following piece is taken from the new WSBI brochure showcasing institute members in Africa.

BRUSSELS, 18 December 2018 In a country where the banking rate reaches 14%, with an internet penetration of 57% and over 100% for mobile phones, Senegal’s PosteFinances, which is neither a bank nor a financial institution but a subsidiary of the Senegalese Post Office, is becoming a major financial player thanks to the PosteCash card.  

This card, launched by PosteFinances in 2017, in partnership with a local bank, is a hybrid electronic payment platform, an individual electronic purse and a multi-channel solution that includes app, SMS, unstructured supplementary service data (USSD), and web. PosteCash offers the possibility to open a virtual account and a mobile money account – with online “Know Your Customer” verification – and to use a prepaid card, a mobile app and reloadable cards (JULA).  

The PosteCash solution allows customers to perform a series of transactions such as deposits and withdrawals, credit purchases, payment card reloads, bill payments, savings and loans, transfers, as well as receive transfers in euros, salary payments, or make payments via a virtual POS, to merchants such as restaurants and pharmacies. The card also allows you to purchase online. Payments are made via the USSD system and transactions can be made through a network of more than 5000 service points: postal agencies, partner network or authorized agents' offices. 

PosteCash targets all segments of the population and therefore promotes financial inclusion. Despite the obstacles that Senegal and many other countries face, such as no Internet access and low use of smartphones in rural areas, the financial impact between May 2015 and February 2018 has been nothing short of remarkable. More than 2 million transactions for an amount of 1.2 billion CFA francs (US$2.2 million), which represents 33,000 customers with a PosteCash card. 

Their business model, comprised of revenue sharing and an electronic money contract with the bank as well as a system of flat fees on services, ensures widespread accessibility for the population at the lowest cost to all the services of the platform with the bank that offers the PosteCash programme.


Financial inclusion; Innovation; Innovation Hub