Finance

FONE4 AFRICA : Pay as you phone

Written by Alexandre FRONSACQ


The founders

For several years, Alexandre FRONSACQ lives and works part of the year in West Africa, Senegal and Guinea Bissau.

In contact with his teams and the people with whom he works, he discovered the new uses of phone developed in Africa. He used regularly for his activity services like WARI or WESTERN UNION, and in particular, he discovered the new ways of payment and money transfer by SMS and USSD (as OrangeMoney or M-Pesa).

In 2016, just over a year ago, he met Jean-Marc LEVY DREYFUS who created the FONE4 software suite.
Together they realized how FONE4 was adapted to the banking uses, money transfer habits and phone payment that is spreading across Africa.

Doctor in Law and former lawyer, Alexandre has been working in Africa for 10 years. He participated in the installation of several companies in Senegal and Guinea Bissau. Jean-Marc is a self-taught in the field of software creation and publishing. In the 2000s, he launched an Internet software publishing company that developed Fone4Technology : an electronic money account and transaction management solution.

They decided to create FONE4 AFRICA to develop FONE4 and offer all Africans the only money transfer service, payment and banking, “easy as a call”.

Our services

FONE4 is a software that combines the proven technologies of databases, Internet services and Interactive Voice Server.

This solution is for banks and financial institutions.

It allows the latter who implement it to operate a private solution of electronic wallet and use of payment and dematerialized transfer without deploying cards or payment terminals, and without depending on the services of a third party network.

The pilot operating system organizes and secures in real time account-to-account, deposit, withdrawal and account management transactions from instructions issued by the account holder either by telephone or via the Internet.

The process does not require any specific software installation on the user’s terminal and does not use any electronic accessories (smartphone, USB key, audiotone signal transmitter …).

The FONE4 application is provided customized and installed on an Internet server belonging to the financial operator who implements the payment system, or belonging to FONE4 depending on the type of service desired.
FONE4 is designed to adapt the platform as the number of accounts and managed transactions increases. Your success factors.

The FONE4 product received the FINANCE INNOVATION label in June 2017 and its payment function FoneToPay won the 2017 “Grand Prix Banque et Innovation” in the M-Banking E-Banking category.

 Differentiating and disruptive factors compared to the existing

The FONE4 mobile payment and funds transfer solution we offer is a radical departure from existing solutions.

• The system does not need to read and write, it speaks in the language of the user.
• The system does not require any user training or app installation on the terminal, the system indicates the things to do step by step.
• The system works regardless of your telecom operator.
• The system works regardless of your device, mobile or not, whether you own it or not.
• It is available 24/365. Just have to access to a phone.
It is a 100% digital solution (currency and transfer technology), secure (blockchain technology) and offered to banks the only operators authorized to carry out international transactions.
Finally, FONE4 is a banking tool for every one who have or not access to traditional banking services.

Business model

The revenues of FONE4 AFRICA come from:

• Operating licenses for application servers
• Fees taken on transactions made on the platform
• Additional services for setting up options

Competition

In B2C, the competitors of our solution are either telephone operators offering SMS and USSD money transfer and payment services (OrangeMoney, MTN Mobile Money, M-Pesa …) or money transfer operators within the network, border and / or cross-border (Western Union, Wari, JoniJoni, Express Union …).
The services of our competitors do not respond to one or more of the following difficulties:
• They are not multipurpose (transfer of money but not payment, for example)
• They are attached to a phone network (Orange, MTN …)
• They need for user to know how to read and write a specific language
• They require the possession of a specific type of terminal or access to a mobile broadband Internet network (4G)
• They impose the installation of an application on the terminal and an apprenticeship to use it
• They are not available 24/365
• They have a very high operating cost for the user
• They can not do cross-border transactions
• They do not participate in the financial inclusion of populations.

FONE4 allows its customers to offer a service that performs all these operations to users easily.

About the author

Alexandre FRONSACQ

FONE4 AFRICA développe et commercialise, à destination des banques, une solution de paiement et transfert d'argent d'un simple coup de téléphone quel que soit l'opérateur et le terminal de l'utilisateur.

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