Crédit Agricole and Worldline announced on Wednesday the creation of their joint venture specializing in payment solutions for merchants, which will be “fully operational at the beginning of 2025”, according to a joint press release.
Last April, the two players indicated that they wanted to join forces in the payment market as part of a long-term strategic partnership, which provided for the creation of a joint venture majority-owned by Worldline with 50% of the capital. no more action.
After receiving unconditional authorization from the European Commission, Crdit Agricole and Worldline announce the creation of their joint venture in the field of electronic banking services to merchants in France, summarize the two partners in their press release.
The joint venture aims to become a major player in electronic services to merchants in France. It will rely on the technological excellence and capacity for innovation of Worldline, particularly in the acceptance business, and on the performance of the Crdit Agricole group on the French market in terms of acquisition, they add.
A commercial brand will be revealed soon
During a first board meeting of the new entity, which was held on Tuesday, Laurent Bennet, general director of Crdit Agricole des Savoie, was elected president of the board of directors and Meriem Echcherfi named general director.
The commercial brand of the joint venture will be revealed soon, it is specified. According to the communicated schedule, the finalization of commercial agreements and the establishment of the operational structure will take place in 2024, while the fully operational launch of the joint venture starting to generate turnover is planned for early 2025.
The new entity will put the best of our two groups at the service of merchants and large distributors operating in France in physical and online commerce, highlights Gilles Grapinet, general director of Worldline, quoted in the press release.