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Breakingviews – Worldline seeks to crack tough French payments nut
Breakingviews - Worldline seeks to crack tough French payments nut,Worldline’s boss Gilles Grapinet has spotted an opportunity to access a hard-to-crack payments market. The $12 billion group announced on Wednesday plans to set up a joint venture with French lender Crédit Agricole , which was looking for a new payments ally after ditching a past accord with bankrupt Wirecard. A partnership with Crédit Agricole will allow Worldline to enter Europe’s top market for merchant payments, which several domestic banks still handle directly. The joint venture, set to be operational in 2025, will see Worldline owning 50% plus one share, with investment of 80 million euros split between the two players.

Breakingviews – Worldline seeks to crack tough French payments nut

Worldline’s boss Gilles Grapinet has spotted an opportunity to access a hard-to-crack payments market. The $12 billion group announced on Wednesday plans to set up a joint venture with French lender Crédit Agricole , which was looking for a new payments ally after ditching a past accord with bankrupt Wirecard. A partnership with Crédit Agricole will allow Worldline to enter Europe’s top market for merchant payments, which several domestic banks still handle directly. The joint venture, set to be operational in 2025, will see Worldline owning 50% plus one share, with investment of 80 million euros split between the two players.