Mourad Mekouar, Managing Director and founder
« M2t was created in 2001 to develop a multi-based local service concept using new technologies. The idea was to develop secure services for delegated or proprietary management of consumer payment collection (for water, electricity, telecommunications, etc.) and sales of telecom recharges by creating and implementing a certified, branded solution on-site at merchant locations. It entailed creating a high-value chain with signif icant benef its for all stakeholders: billers and operators, merchants, consumers-customers, and, of course, M2t.
The low number of people using banking services, meaning a significant percentage cash payments, was a great catalyst in our development of the concept. The service met the needs of utility companies, helping improve their collection rate and establishing a closer relationship with their customers, as well as meeting customers' needs for greater latitude and flexibility in making payments at lower cost. We were able to develop this model in Senegal in late 2007. Now, in 2011, we have chosen to base our European expansion in Paris by creating the ETPS FR* subsidiary, headed by Inès Guignard, to provide our services to Moroccan and Senegalese residents through use of innovative technologies (M Banking, contactless identif ication and payment [NFC]). Paris and the Paris Region were the clear choice for our location, not only for the presence the institutions have here and the size of certain communities living in the area, such as the Moroccan and Senegalese communities, but also the quick and easy travel possible throughout Europe from this Region. »