photo for illustration purpose only

The interbank electronic banking Group of Central Africa (Gimac) last October 31, 2016 met in Douala, the economic capital of Cameroon to officially launch of the Gimac interbank card.

This card is to be used to perform operations on other devices and ATMs of banks operating within the six states of CEMAC viz; Cameroon, Congo, Gabon, Central African Republic, Chad and Equatorial Guinea.

This official launch, alafnet.com  learned, comes a way long after the commissioning of this card, which has been operational since Q1 2015.

According to officials of Gimac, this community bank card, currently in used on the networks of twenty banks in the CEMAC zone has already helped to make transactions of about 5 billion francs CFA to date.

The transaction volume should increased tenfold with the official launch of the card. For example, after the ceremony in Douala, the International Bank of Cameroon for  savings and credit (BICEC), a subsidiary of the French group BPCE, immediately announced to its customers that it had 100 ATMs open within the Gimac network.

Moreover, it contributes in the financial integration of the countries of the CEMAC zone. Gimac card enters a market where Visa and MasterCard already reign supreme.

From this point of view, the main challenge of Gimac lies in its ability to be able to find the right formula for this community bank card.  An environment where the newborn will compete with adults.




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