This framework agreement is the first tangible result of fruitful discussions which began at the end of 2009.
Cedicam and Equens have stated earlier that they wish to jointly realize the goals which include combining volumes and developing synergies in order to reduce unit processing costs and fostering growth dynamics in order to be able to offer technical and commercial expertise and broad regional coverage.
In the context of the framework agreement, Cedicam and Equens have identified numerous potential joint projects that will allow them to achieve these goals.
In addition, these projects will deliver tangible benefits and address the increasing demand amongst banks for a further reduction of processing costs for the benefit of their customers.
According to Credit Agricole, these potential joint projects have objectives which include defining and implementing the operational conditions for connecting the systems of Cedicam and Equens and exchanging transactions, sharing expertise in order to optimize IT development activities, optimizing the supply conditions for hardware and software and exploring new opportunities by expanding potential commercial partnerships with the European subsidiaries of the Credit Agricole Group.
Credit Agricole head of payment systems and services and chairman of Cedicam Marc Carlos said they are convinced that the most pragmatic approach to deliver results and benefits in the short term is to build a strong commercial partnership between them.
"This framework agreement constitutes a major step towards the implementation of our shared strategic vision of the European card and payment market," Carlos said.
