Following this collaboration, the two partners aim to build a joint company fully operational by 2025. This project will combine Crédit Agricole’s trader-acquiring footprint, as well as its distribution network, with Worldline’s technology, merchant services capabilities, and global infrastructure.
The focus of the partnership is on providing the technological and commercial offerings at scale, which are set to enable customers to adequately respond to any type of needs merchants or traders might have, whether locally or globally.
This feature will combine Worldline’s expertise embedded into an instore with its global solutions, platforms, and payment applications which offers the company the possibility to serve traders at scale online. Moreover, it will leverage Crédit Agricole’s suite of networks through the 39 Crédit Agricole Regional Banks and LCL banks, which will provide customers with numerous banking advisors across the market and will give them local knowledge in merchants acquiring.
Furthermore, throughout this deal, Worldline will also benefit from additional specific French market products and offerings, which gives the company the opportunity to expand its footprint in the industry.
According to the press release, the joint company is set to be majority owned, with 50% of total capital plus one share, and fully consolidated by Worldline. It will also leverage Worldline’s global European processing platforms and will develop all the products and services designed for the French market. Moreover, it will be in charge of the commercial growth of the collaboration by providing active support to the bank distribution channels, for the largest merchants and businesses in particular.
Focusing on the SMBs and SMEs, the project will bring merchants deep access to a suite of payment brands and means, as well as value-added services covering all their needs, going from mobile acceptance devices to more traditional Point-of-Sales (POS) services for seamless, faster, and more secure transactions. This will be applied to any kind of merchants, whatever their size, location, or experience, and it will aim to improve their experience and customer purchasing processes.
The company would provide important accounts in France with a full-service offering that uses Worldline’s global acceptance and acquiring platform. This includes the `Cartes Bancaires` scheme, to which international customers will be able to get access, further expanding its broad range of payment schemes.
Currently, the operation is still subject to both parties’ works council consultation, as well as corporate authorisations, and customary regulatory approvals. For 2023 and 2024, Worldline and Crédit Agricole are set to make an investment of EUR 80 million equally for the product and offering design, as well as for its implementation. The plan continues in 2025 when the full implementation of the joint company should start to generate revenues and OMDA.
Worldline represents a company that provides its customers and clients with multiple services and products to improve their development process. These include its payment technology, local expertise, and solutions that are customised for numerous markets and industries.
At the beginning of April 2023, the Wolrdline announced its partnership with France-based international banking group BNP Paribas, in order to combat fraud in SEPA Direct Debit transactions.
BNP Paribas implemented Worldline’s services that combined the electronic signature of SEPA mandates with Open Banking-based account validation, in Germany, France, and Italy, with additional countries being set to follow in the following months.
In March 2023, the company launched VABOC (Voice Alert Box) to facilitate instant payment voice alerts for merchants in India.
For more information about Worldline, please check out their detailed profile in our dedicated, industry-specific Company Database.
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