BNP Paribas and BPCE wish to take a major new step in the payments field by jointly acquiring the best technology for processing payments for card holders and merchants.
This processor would handle all card payments from BNP Paribas and Groupe BPCE in Europe, accounting for 17 billion transactions, and could also be opened to other banks. It would thus be the Number 1 processor in France, both Groups share the ambition to make it one of the Top 3 processors in Europe.
Given the unprecedented development of payment infrastructures and its future prospects, it is essential to invest in a way that is commensurate with the challenges. The partnership project announced today between BNP Paribas and BPCE will respond to ongoing market developments, in particular those relating to the digitalisation of payment systems, the virtualisation of debit cards and promotion of instantaneous transactions. It strengthens the partnership which already links the two banks within Partecis for the development of payment processing software, which they intend to expand and consolidate into a reference payment processor on the market, on an international level.
The partnership would result in the creation of a common processor with a technological platform (operations, back-office activities and development), capable of integrating the best technological standards for payments, the growing usage of digitalisation (acceleration of mobile payments, expansion of e-commerce, demand for immediacy) and the innovations brought about by domestic and international schemes (Carte Bancaire, Visa, Mastercard, EPI/Wero.).
With 17 billion transactions from BNP Paribas and BPCE processed, this processor would be the leader in France and will rank among the Top 3 in Europe. It could also be opened to handle transactions from other banking institutions.
The partnership is accompanied by an exclusive agreement between BNP Paribas and BPCE to create a target business model in the form of a joint venture.
