PARIS (Reuters) - BNP ParibasPA> and BPCE said on Thursday they have finalized an agreement to create Estreem, a new French leader in payment processing, with the ambition to become one of the top
BNP Paribas and BPCE Collaborate in Payment Processing
PARIS (Reuters) - BNP ParibasPA> and BPCE said on Thursday they have finalized an agreement to create Estreem, a new French leader in payment processing, with the ambition to become one of the top three European players in the sector.
The new company, which will be jointly owned by the two banks, will process all card payments for BNP Paribas and Groupe BPCE in Europe, amounting to 17 billion transactions per year, positioning Estreem as the French leader in processing with 30% of card payments volume in France, the statement said.
(Reporting by Dominique Vidalon; Editing by Tomasz Janowski)
