BNP Paribas and BPCE join forces in payment processing

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BNP Paribas and BPCE join forces in payment processing

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BNP Paribas and BPCE join forces in payment processing

//business-finance.news-articles.net/content/202 .. -and-bpce-join-forces-in-payment-processing.html

Published in Business and Finance on Thursday, February 13th 2025 at 3:00 GMT by Reuters
^{🞛 This publication is a summary or evaluation of another publication 🞛 This publication contains editorial commentary or bias from the source}

BNP Paribas PA and BPCE said on Thursday they have finalized an agreement to create Estreem, a new French leader in payment processing, with the ambition to become one of the top three European players in the sector.

210x110/4873 Bytes

BNP Paribas and Groupe BPCE have announced a strategic partnership to enhance payment processing in France, aiming to create a new entity that will manage card payments and compete with established players like Worldline. This collaboration will see BNP Paribas' card processing unit, Payplug, and BPCE's payment processing arm, Paynovate, merge into a single, independent company. The new entity will process transactions for both banks' clients, including those of BNP Paribas' commercial banking arm, Banque Commerciale Internationale (BCI). The partnership is set to be operational by the end of 2024, with the goal of improving efficiency, reducing costs, and enhancing service offerings in the payment sector. This move is part of a broader trend in the banking industry to consolidate payment services to better compete with fintech companies and international payment giants.

Read the Full Reuters Article at:
[ https://www.reuters.com/business/finance/bnp-paribas-bpce-join-forces-payment-processing-2025-02-13/ ]