BNP Paribas and BPCE Partner to Create Payment Processor

Core Viewpoint - BNP Paribas and BPCE are forming a joint venture to create a payment processor that aims to become a leading player in the European market, responding to the growing digitalization of payment systems and increasing card transactions [1][3][6]. Group 1: Partnership and Strategic Goals - The partnership aims to create a common processor that will handle all card payments from both banks in Europe and potentially other banks [6][7]. - BPCE CEO Nicolas Namias emphasized that this initiative aligns with their strategic plan to accelerate innovation in payment systems [2]. - BNP Paribas Director and CEO Jean-Laurent Bonnafé highlighted the exponential increase in card transactions, aiming for an efficient and scalable processor across Europe [8]. Group 2: Technological Development - The new processor will encompass operations, back-office activities, and development, integrating technological standards and innovations [4]. - The initiative is part of a broader trend in the industry towards the virtualization of debit cards and the promotion of instantaneous transactions [3]. Group 3: Competitive Landscape - The joint venture will compete against established players like Nexi and Worldline in the payment processing market [9]. - Crédit Agricole is also forming a joint venture with Worldline to provide payment services in France, indicating a competitive environment for payment solutions [5][10].