Driven by 4 core businesses: payment, financing, insurance and anti-fraud, oney bank It has more than 7 million customers. Now it operates in more than 17,000 stores or commercial sites, particularly with its flagship product: installment payments. Since October 2019, Oney has been supported by a new shareholder, Groupe BPCE, with 50.1% of the capital, together with ELO, Auchan’s holding company.
Installment payment: still a strong development potential
The inflationary context is buoyant for credit activity. Consumers increasingly feel the need to use solutions to finance their most important expenses (leisure, travel, IT, work, energy, etc.) and thus guarantee better control of their budget and their remaining monthly life.
In fact, in 2022, consumer credit grew by 7.7% in France (ASF figures). In the same period, Oney registered growth of more than 15%, confirming its leadership in particular in installment payment (34.5% in 2022. Source ASF), a market strongly driven by the democratization of digital uses.
Thus, if the buy now pay later (BNPL) represents 7% of e-commerce in France, it rises to 25% in Germany. This gap underscores a still significant development potential.
New expectations in 2023
In order to better meet consumer expectations, Oney has been offering a new product for several months. Always charged to a bank card, it allows payments to be divided into longer installments (from 5 to 12 X), especially for larger baskets.
At the same time, to meet the requirements in terms of immediacy and simplicity, Oney has created the oney account. Created automatically during the first installment payment, it allows you to carry out new financing with a bank card in several installments with all the merchant partners, without having to transmit, since already registered, all the data requested in the form.
On the merchant side, these streamlined processes, coupled with strong consumer credit and risk management expertise, allow Oney partners to see their conversion rate as well as average basket increase (from +20% to +70%). All this experience contributes to enriching the shopping experience and customer satisfaction. This is high for this type of payment, highlighting consumer appetite for this. In fact, Oney records a Net Promoter Score (NPS) of 76 linked to this type of payment.
For an informed and sustainable consumption
Aware of the social and environmental challenges that society must face, Oney wishes to participate in initiatives capable of supporting the development of “better consumption”. In doing so, Oney supports players in the circular and sustainable economy and continues to support players in second-hand and refurbished products, as well as C2C. The participation of the credit production for the purchase of “CSR” products is also part of the strategic axes of the company and even of the salary policy.
Promotion of sport and its values
A Premium Partner of the Paris 2024 Olympic and Paralympic Games, under the leadership of Groupe BPCE, Oney Bank wishes to promote sport and the values it conveys in the daily lives of its customers, partners and employees, and to continue promoting the notion of responsibility, ethical standards and attention to the environment with everyday champions.
This content was produced with AGENCE DELTA. The BFMBUSINESS editorial team was not involved in the production of this content.
Source: BFM TV
