View all newsletters
Receive our newsletter – data, insights and analysis delivered to you
  1. Dashboards
  2. Deals
March 30, 2012updated 04 Apr 2017 4:14pm

Crédit Agricole’s Cedicam changes name for European expansion

Crdit Agricoles payment processing subsidiary Cedicam has changed its name to Crdit Agricole Cards and Payments as part of its strategy to expand in the European payments market. The change in name comes as Crdit Agricole prepares to launch a SEPA-compliant multi-bank, multi-currency payment processing platform, which it had begun investing in in 2008.

By Duygu Tavan

Crédit Agricole’s payment processing subsidiary Cedicam has changed its name to Crédit Agricole Cards & Payments as part of its strategy to expand in the European payments market.

The change in name comes as Crédit Agricole prepares to launch a SEPA-compliant multi-bank, multi-currency payment processing platform, which it had begun investing in in 2008.

It offers very broad coverage of the payments value chain, and also offers full scalability. It is innovative and effective, particularly in the field of electronic banking, processing of SEPA transfers and direct debits, cash management and even bank card customisation, an official announcement said.

Crédit Agricole’s France-based payment processing company processes about €200bn worth of payments per day and about 8bn transactions per year.

The bank has a 30% market share in electronic banking processing in France and a 35% market share in payment flows.

The payment processing arm has 300,000 merchant contracts.

NEWSLETTER Sign up Tick the boxes of the newsletters you would like to receive. A weekly roundup of the latest news and analysis, sent every Wednesday.
I consent to GlobalData UK Limited collecting my details provided via this form in accordance with the Privacy Policy
SUBSCRIBED

THANK YOU

Thank you for subscribing to Electronic Payments International