“Django offers personal loans from October”

The split payment was only a first step for the Banque Postale branch, Django. Its general manager, Jocelyne Amegan-Douaud, chose the JDN to talk about prospects.

JDN. Six months after its launch last March, what conclusions do you draw from the beginning of Django?

Jocelyne Amegan-Douaud. The big plus is obviously the hospitality of the traders, some even knocked on our door so we could work together and I must admit that I was not prepared for that. On a slightly less cheerful aspect, he had not anticipated such a deceleration in the split payment sector, even before the application of the new regulations. This follows in particular the tightening of the screws last June on the part of the United Kingdom. We need to strengthen our strengths, which are our positioning and our technology. Many players will fight to raise new funds and the only ones that will survive will be the strongest and incumbent companies. These are the ones we intend to compete with even if it is true that it is happening sooner than expected.

How do you see the coming competition?

The market is changing and allowing new forms of split payment to appear. Django will release its application in the course of 2023. This will allow you to offer a split payment up to four times to meet unforeseen or urgent requests, such as after a theft or loss. We will establish split payment options in 90 days, but also over and with deadlines in ten, fifteen or twenty times. At the same time, we also offer credit for our commercial partners in the form of targeted credit, that is dedicated to the purchase of a specific good or service. Finally, we will launch the personal loan for consumers, available on the Django platform from October 15, 2022.

Today, what products do you offer?

We offer split payment in two, three and four installments which allows you to buy now and pay in several installments within a limit of 90 days. Our second product is deferred payment, which also allows you to buy now and pay in fifteen, thirty or forty-five days. These two options are already present to 80 commercial partners after six months (March 22) and we have new partners to announce during the month of October.

What are Django’s ambitions?

La Banque Postale aims to internationalize. From next year, expansion in Southern Europe, especially in Spain and Italy in the third quarter of 2023. As an intermediary for banking transactions in payment services, Django benefits from the approval of its parent company, the postal bank. This obviously facilitates our international ambitions.

Finally, why did you enter this segment?

We missed the acquisition of FLOA in February 2022, which is when La Banque Postale decided to launch its own Buy Now Pay Later and a consumer credit player. The project consists in the creation of an actor of the split payment that could stand out from a citizen dimension. It is with this aim that we have sealed our partnership with the CRESUS association to help the above people. This allows us to work in the best way to offer loans with a positive impact, to communicate effectively with our customers and to allow direct access to the BGV link. (high speed budget, editor’s note)the CRESUS tool to calculate your remaining life.

Isn’t this civic engagement just a line of communication?

We want to be in compliance with the new European consumer credit directive. Some players exceed the usury rate, this quarterly ceiling established by the Banque de France and to which credit organization must adhere. Since the split payment cannot be more than three months, it is not subject to the consumer credit rules. Similarly, this new directive should allow consumers to be protected from the accumulation of split payments, as for traditional credits. At Django, we only issue two split payments per merchant in a 35-day period.

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