BPCE: payment partnership finalized with BNP Paribas

(CercleFinance.com) - BNP Paribas and BPCE announced on Thursday that they had finalized the strategic partnership in the field of payments that they had formalized last June.


The project, which has proceeded according to schedule, will give rise to Estreem, an equally-owned joint venture employing around 300 people.

This new company will initially process all card payments made in Europe by customers of BNP Paribas and the BPCE group, i.e. the equivalent of 17 billion transactions per year.

With 30% of the volume of card payments in France, Estreem is positioned as the French leader in processing.

The aim is then to open up the platform to other banking establishments by 2028, subject to obtaining the necessary regulatory approvals, by developing it in priority European markets such as Belgium and Italy.

Ultimately, BNP and BPCE say they aim to make Estreem one of the "top 3" payment processors in Europe.

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