BPCE has announced a "strategic partnership" with BNP Paribas to "take a major new step forward in payments".

The partnership will result in the creation of a joint processor with a technological platform capable of integrating "the best payment technology standards for cardholders and merchants".

This processor will process all BNP Paribas and BPCE card payments in Europe, i.e. some 17 billion transactions, and may also be used by other banks.

The idea is to respond to current market trends, notably those linked to the digitization of payments, the virtualization of bankcards and the instantaneity of transactions.

The partnership is accompanied by an exclusive agreement between BNP Paribas and BPCE for the creation of a target operating model in the form of a joint venture.


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