BNP Paribas and Financière des Paiements Électroniques (FPE), which provides the Compte-Nickel payments account, have signed a Memorandum of Understanding for the purchase of a 95% stake in FPE by the Bank. The exclusive partnership between Compte-Nickel and the Confédération des Buralistes de Francehas been extended.
With over 540,000 accounts opened over the past three years and a new account being opened in France every 30 seconds, Compte-Nickel has proven to be a real success with a broad and diverse public. A key advantage for those using Compte-Nickel is its 100%-digital processingand real-time treatment of payment transactions.
The new alliance forged between Financière des Paiements Électroniques and BNP Paribas marks the second phase in the growth of Compte-Nickel, with a view to speeding up the acquisition of new customers, the target being a total of two million accounts by 2020.
Compte-Nickel will add up to the BNP Paribas Group’s multichannel setup designed to new banking usage in France. Together with the Bank’s branch network, the digital services offered by the French Retail banking and Hello bank!, Compte-Nickel provides BNP Paribas with a comprehensive set of solutions well adapted to all client needs.
“From the very start, the Confédération des Buralistes has been the strategic partner to Compte-Nickel, ensuring its exclusive distribution. BNP Paribas joining the partnership gives us an opportunity to secure and strengthen this strategic agreement. Our target is to increase fourfold within a few years the number of local retailers who distribute Compte-Nickel. In addition, it is expected that the Confédération and BNP Paribas will study together any project contributing to modernise the Buralistes’ network,” declared Pascal Montredon, the President of the Confédération.
Hugues Le Bret, Chairman of Financière des Paiements Électroniques, explained: “Since its creation in 2013, Compte-Nickel has grown thanks to the support of the Confédération des Buralistes de France, alongside our shareholders and staff. In order to pursue our new ambition, joining forces with a top-rank financial player was a matter of course. As a partner of choice for startup companies, BNP Paribas was immediately able to grasp the relevance of our positioning, our need for agility in developing our business model, and the resources required to drive our growth. Our brand, our values and our disruptive culture all remain unchanged.”
Thierry Laborde, BNP Paribas Group Deputy Chief Operating Officer, underlined: “By making this investment along French Buralistes, BNP Paribas is further extending its partnership range, both in terms of service and customer. The Compte-Nickel offering will remain distinct from, and complementary to, the products and services provided by the BNP Paribas branch network and Hello bank! Like all the startups with which we have already long-term cooperation, Compte-Nickel will remain independent from the rest of the Group. Meanwhile we will be making every effort to help Compte-Nickel improve the customer experience and foster its growth, while remaining true to its concept.”
The draft agreements relating to this transaction will be subject to a consultation process with the Works Council of each of the two parties and will require the relevant regulatory authoritations before being finalised and executed.
The General Management team at Financière des Paiements Électroniques will remain unchanged as:
– Ryad Boulanouar, Honorary Chairman,
– Hugues Le Bret, Chairman,
– Arnaud Giraudon, Chief Executive Officer ,
– Jacques-Olivier Schatz, Company Secretary.