(CercleFinance.com) – BPCE announces a ‘strategic partnership’ with BNP Paribas in order to ‘take a major new step in payments’.
The partnership would result in the creation of a common processor equipped with a technological platform capable of integrating ‘the best technological standards of payments for cardholders and merchants’.
This processor will be intended to process all card payments in Europe from BNP Paribas and BPCE, i.e. some 17 billion transactions, and will also be able to address other banks.
The idea is to respond to current market developments, in particular those linked to the digitalization of payments, the virtualization of bank cards and the immediacy of transactions.
The partnership is accompanied by an exclusivity agreement between BNP Paribas and BPCE relating to the creation of a target operating model in the form of a joint venture.