BNP Paribas and BPCE announce strategic partnership in payments

16/06/2024 News

BNP Paribas and BPCE are set to revolutionize the payments industry through a new strategic partnership. The collaboration aims to create a state-of-the-art payment processor to streamline card payments for cardholders and merchants.

Leading the payment processing market

This partnership will result in a unified payment processor that handles 17 billion transactions annually from both banks, making it the top processor in France and among the top three in Europe. The processor will also be open to other banks, broadening its scope and influence.

Adapting to market changes

As payment infrastructures evolve with increased digitalization, virtual debit cards, and instant transactions, significant investment is required. This partnership will help both banks stay ahead of these trends and drive innovation in payment systems.

Building on existing success

This initiative builds on the existing collaboration between BNP Paribas and BPCE within Partecis, focusing on payment processing software development. The new processor will integrate the latest technological standards to support mobile payments, e-commerce expansion, and real-time transactions, incorporating innovations from major payment schemes like Carte Bancaire, Visa, Mastercard, and EPI/Wero.

Leadership insights

Nicolas Namias, CEO of BPCE, highlighted the importance of this partnership: "Our previous collaboration in payments with BNP Paribas was a great success. This new project aligns with our strategic plan and accelerates innovation in payments, offering top-quality service to our customers, especially within the Banque Populaire and Caisse d’Epargne networks."

Jean-Laurent Bonnafé, Director and CEO of BNP Paribas, added: "Payment systems are crucial to our customer relationships, and maintaining the highest standards is essential. With the rise in card transactions, our goal is to create an efficient and scalable processor across Europe. This joint platform with BPCE is key to supporting our growth in payment systems."

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