This platform will incorporate instant services, multi-scheme solutions including Visa, Mastercard, and CB, and will be tailored to various domestic markets. Credit: Volodymyr Plysiuk / Shutterstock.

French companies BNP Paribas and Groupe BPCE have launched a new payment processing entity, Estreem, with both groups holding a 50% stake in the company. 

The joint venture (JV) is part of a partnership announced in June 2024. 

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It will handle all card payments for both banking groups in Europe, processing 17 billion transactions annually accounting for 30% of card payment volume in France. 

The new entity aims to rank among the top three processors in Europe, the joint release said. 

It leverages the combined payment processing expertise and technologies of both groups and designed for both cardholders and merchants with physical and digital card services.  

The venture will employ over 300 individuals, leveraging the existing partnership that dates back to 2005 under the payment software edition Partecis.  

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Antoine Leclercq has been appointed as the CEO, with Vincent Querette as the deputy CEO. 

This platform will incorporate instant services, multi-scheme solutions including Visa, Mastercard, and CB, and will be tailored to various domestic markets.  

Additionally, Estreem will integrate digital payment schemes, notably Wero. 

Estreem’s payment processing platform will develop in 2025-2026, with operations migrating by 2027-2028, followed by expansion to Belgium and Italy from 2028, subject to regulatory approvals.

Groupe BPCE Digital & Payments CEO Yves Tyrode said: “The long-term experience of the Estreem management team and all employees involved in this project are the best guarantees of our ability to meet this challenge and thus build the future of payments in France and Europe.” 

BNP Paribas commercial, personal banking & services chief operating officer Thierry Laborde said: Estreem is a real strategic step forward to face the profound transformation of the payments market, where reliability, security and fluidity are at the heart of transactions and expectations.  

“We are very enthusiastic about this partnership with BPCE: our complementarity, the pooling of our skills and technologies and the quality of our teams give us full confidence in our capacity to be a major player in payments in France and in Europe.” 

In July last year, BNP Paribas teamed up with Ant International to improve cross-border payment solutions for merchants and consumers in Europe.