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Two subsidiaries of French retail banking conglomerate Groupe BPCE are set to affix forces in a transfer to consolidate the group’s FinTech operations.
Payplug, an omnichannel funds answer designed for small and medium-sized companies (SMBs) and Dalenys, an eCommerce-focused cost platform, are being mixed and can henceforth function beneath the Payplug model, Groupe BPCE stated in a information launch.
Payplug CEO Antoine Grimaud stated the 2 subsidiaries are being joined “we with the aim of becoming the go-to payments partner for traditional merchants, e-merchants, SMEs and large corporations in both France and Europe.”
He added, “Our strong fit and shared values are set to reinforce our unique position in the market. Our teams stand ready to redefine payment performance in order to help our clients grow their businesses faster in France and Europe.”
Pierre-Antoine Vacheron, CEO Payments of Groupe BPCE, stated that “the merger of Payplug and Dalenys marks a new stage in Groupe BPCE’s strategy of offering merchants a leading French alternative for digitalizing their sales and payments.”
Citing “the two companies’ combined know-how, a 400-strong workforce and critical size,” Vacheron stated the brand new mixed Payplug funds subsidiary “will further reinforce its attraction on the payments market and maximize synergies with all the lines of expertise housed within BPCE Digital and Payments.”
The choice to mix the Payplug and Dalenys manufacturers comes at a time when competitors is heating up within the French funds market.
As nicely as choices from international gamers that target eCommerce or in-person point-of-sale (POS) options, corporations like VTEX have their very own sturdy omnichannel proposition and see France as a key market, as VTEX GM for France informed PYMNTS just lately.
Watch the interview: EMEA Fireside Chat with Philippe Peyresaubes, GM of France at VTEX
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A PYMNTS survey of two,124 US customers exhibits that whereas two-thirds of customers have used FinTechs for some facet of banking providers, simply 9.3% name them their main financial institution.
https://www.pymnts.com/digital-payments/2022/payments-platform-facepay-debuts-guaranteed-text-to-pay-for-auto-repair-shops/partial/
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