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."

Related news & insights

Digital Reinvention
15/07/2024 Article

Financial Innovation Spotlight – July 2024 edition

This global innovation journey begins in Singapore, where OCBC Securities offers AI-driven personalized stock recommendations. Then we head to the...

Digital Reinvention
12/07/2024 Interview

NewTech Friday: Trustly – Offering fast, simple and secure online banking payments

Swedish scaleup Trustly is an open banking pioneer and a global payment method. Qorus’ Boris Plantier talked to Oscar Berglund,...

Digital Reinvention
11/07/2024 Interview

Creating the My World Super App: A peek into Yapi Kredi’s award-winning project

Yakup Doğan, Assistant General Manager responsible for Limitless Banking at Yapı Kredi, reflects on the Turkish bank's victory at the...

Mobility
11/07/2024 News

N26 partners with Bipi to offer €400 discount on car subscriptions

This collaboration marks a significant step in expanding N26’s customer benefits and highlights the growing trend of flexible car ownership...

Insurance
04/07/2024 Interview

Aksigorta’s bronze win: Unveiling the success of embedded card debt insurance

Turkish insurer Aksigorta won bronze in the Re-imagining the Customer Experience category at the Qorus Innovation in Insurance Awards 2024...

Mobility
04/07/2024 News

CommBank launches car buying service in app

Partnering with carsales and Vyro, the service simplifies the car buying process for personal and business customers by providing tools...

SME Banking
04/07/2024 News

CaixaBank launches ‘MyBox Retirement’ service for self-employed workers

This service expands the benefits of CaixaBank's long-term savings program to address the unique financial needs and protection requirements of...

04/07/2024 News

RBC expands financing options to boost Canada's housing market

This program offers financial assistance for building, retrofitting, and renovating properties, making it easier for homeowners to add auxiliary dwelling...