Through this merger, Visa Europe and Carte Bleue aim to provide card payments for banks, retailers and consumers in the French market.
Visa Europe said that a national organization will be set up with representatives elected from French members of Visa Europe. The board will provide local governance and set priorities for the French market. The new organization’s management will be headed by Gerard Nebouy as the directeur général reporting to Philippe Menier, deputy CEO of Visa Europe.
Mr Menier said: “The newly merged organisation will provide the best of both worlds for French banks – a SEPA compliant development of their card payments business in France with local control, building on our successes, and offering direct access to a range of services and expertise. Visa Europe’s decision to remain a European owned and controlled membership association was key to this decision. As a membership association, Visa Europe ensures that all important decisions are decided through full consultation with its member banks.”
Mr Nebouy said: “The new organisation Visa France, aims to develop new value-added payment solutions for all stakeholders – and specifically for retailers and consumers. We expect to see continued growth in the French market as we focus on meeting the needs of our members and their customers.”
Carte Bleue is a debit card payment scheme operating in France. The system has now been integrated into a wider scheme called Carte bancaire. Carte Bleue started in 1967, associating six French banks (BNP, CCF, Credit du Nord, CIC, Credit Lyonnais and Societe Generale.
