The payment experience reinvented
Payment: an essential act at the heart of the relationship with our customers. To provide them with a simple, fluid, bespoke and secure experience, BNP Paribas is innovating on several fronts. Focus on advances that will benefit all our customers.
BNP Paribas has launched an unprecedented partnership in the field of payment solutions. Faced with the explosion of online sales platforms, a growth driver for e-commerce, and to meet new needs, such as the sale of second-hand products, the Group is working with 321Founded, a business incubator that brings together start-ups and large companies. At the end of 2023, this collaboration gave rise to 1POINT6, a brand new fintech that guarantees smooth, secure transactions for online sales platforms. With this “all-in-one” offer, based on the best standards on the market and enabling the secure management of payments and the redistribution of funds to third-party sellers, BNP Paribas, already present throughout the payment value chain, offers these platforms with a European alternative able to compete with the biggest names in the sector. Launched in the first half of 2024, this offer will gradually accept several types of payments (cards or split payments, for example) and will provide management and control tools to limit fraud. It’s aiming to turn a profit by the end of its third year.
Contributing to a unified European digital payment solution
The European Payments Initiative (EPI), of which BNP Paribas is a shareholder and founding member, has taken a number of decisive steps towards European sovereignty in payments. The EPI was strengthened with the acquisition of Currence iDEAL, a leading payment scheme in the Netherlands, and of Payconiq International, a payment solutions provider based in Luxembourg. As a first step, these two acquisitions will enable the EPI to launch Wero, a digital payment solution between individuals, in Belgium, France and Germany in mid-2024. Soon to be available throughout Europe, Wero is powered by instant transfer technology and will offer a range of payment options: one-off transactions, subscriptions, instalments, cash on delivery and reservations.
Collecting payments using a smartphone
In 2023, Commercial & Personal Banking in France announced that it would be launching two new payment solutions for its professional and business customers from 2024: Tap to Pay on iPhone and Tap to Phone on Android. These solutions will enable the collection of payments by bank card directly on the merchant’s smartphone, without additional equipment.
These offers will make life easier for retailers at a time when most consumers want to pay for their purchases using contactless technology, even for amounts over €50.
Managing budgets made easy with FLOA
As a major player in fractional payments, FLOA now offers consumers greater flexibility in managing their budget by decoupling their payment from the time of purchase. With the FLOA app, they can choose to pay in instalments before, during or after their purchase. Each person can adapt their payments to their needs.