Crédit Agricole signs Wirecard to grow European footprint

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French banking giant Crédit Agricole’s payments unit has signed a deal with Wirecard to develop an integrated payment acceptance and acquiring platform serving large merchants.

Leveraging technology from Germany-based Wirecard, Crédit Agricole Payment Services (CAPS) aims to migrate merchants with existing point-of-sale solutions to an integrated digital platform that also supports online and mobile payment acceptance beginning next year, according to a Wednesday press release.

Through the collaboration, CAPS aims to provide large, global merchants with a centralized platform for acceptance and acquiring processing capabilities in Europe, positioning both Wirecard and CAPS for growth in a rapidly changing market, said Bertrand Chevallier, CEO of Crédit Agricole Payment Services, in the release.

“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,” added Markus Braun, Wirecard’s CEO.

Crédit Agricole Payment Services claims a 30% share of France’s payments market, processing 10 billion transactions annually with 19 million payment cards in circulation, according to the release.

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