Crédit Agricole And Wirecard Partner On Digital Payments

Crédit Agricole subsidiary Crédit Agricole Payment Services (CAPS) and digital finance technology company Wirecard have signed a contract to begin their next generation digital partnership in payment services.

After first starting into initial negotiations in December 2017, the parties are now defining the next steps to achieve state-of-the-art multichannel solutions.   

CAPS and Wirecard will provide new e-commerce payment acceptance and acquiring services, available at the beginning of 2019. This partnership will also reinforce the development of mobile Point-of-Sale (mPOS) and other Point-of-Sale (POS) solutions for fast and easy payments in line with new uses and consumer purchasing journeys.

In addition to new customer acquisitions, CAPS will offer its existing clients the possibility to combine their existing POS solutions with online and mobile offerings, so that their consumers benefit from an integrated digitalized solution. 

This partnership will also support the international development of large customers by providing a centralized platform for acceptance and acquiring processing capabilities in Europe.

Crédit Agricole Payment Services CEO Bertrand Chevallier said: “We are delighted to announce the agreement with Wirecard, one of the most innovative providers of digital financial technology. This will bring our leadership in payment solutions to the next level.

“By capitalizing on the respective strengths of Crédit Agricole Payment Services and Wirecard, this partnership will enable both companies to grow in a rapidly changing market.”

Wirecard CEO Markus Braun said: “Crédit Agricole Group is a leader in the payment market in France. We are proud to provide Crédit Agricole Payment Services with our digital ecosystem of multichannel solutions and value-added services – all through one platform. Today, it is essential to offer businesses and consumers a smooth digital payment experience and we are looking forward to shaping the future of digital commerce together across Europe.”

With a 30% market share and over 40 years of experience, Crédit Agricole Payment Services is a leader in France on the payment market and supports the Groups’ development in a business which is at the center of the Universal customer-focused banking model. The company processes over 10 billion transactions per year and issued 19 million cards in 2017.

Source: Company Press Release