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BNP Paribas: payments partnership with BPCE

( - 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, particularly those linked to the digitization of payments, the virtualization of bankcards and the immediacy of transactions.

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

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