BPCE and BNP Paribas have announced a strategic partnership aimed at acquiring joint payments processing technology to enhance services for cardholders and merchants. This collaboration will lead to the development of a shared processing system that will manage all card payments for both institutions. With a combined total of 17 billion transactions, the new processor is expected to become a leader in France and rank among the top three in Europe.
The joint processor will tackle key market challenges, including the rapid growth of mobile payments, the expansion of e-commerce, and the demand for immediate service, while also accounting for innovations from both domestic and international payment schemes.
Jean-Laurent Bonnafé, CEO of BNP Paribas, emphasized the importance of payment systems in maintaining strong customer relationships. He noted the upward trend in card transactions and expressed the ambition to create a processor that is both efficient and scalable across all European operations.
Nicolas Namias, CEO of BPCE, reflected on the success of their initial collaboration and highlighted this new partnership as a significant step towards fostering innovation in payment systems in the years to come.