View all newsletters
Receive our newsletter - data, insights and analysis delivered to you
  1. News
January 18, 2021

Mastercard and FrenchSys team up to boost payment innovation in France

By Mohamed Dabo

Mastercard and FrenchSys, which facilitates the deployment of electronic payment solutions at French acceptance points, have teamed up to speed up payment innovations across France.

A service company created in January 2019, Frenchsys is a catalyst and facilitator for the deployment of electronic payment solutions on French acceptance points.

Every year, 130 million French and international consumers enjoy easy access to French electronic banking services, where transaction volumes are growing rapidly.

While France has historically been a forerunner in card payment technology, it needs to constantly innovate to remain at the leading edge along with its European counterparts.

Optimising product and service roll out

In addition to complying with European payment regulations, it is becoming increasingly important to provide features and innovations that meet the needs of consumers and merchants alike.

In this context, it is vital for Mastercard to ensure that its products and services are rolled out in France under optimal conditions.

It is against this backdrop that Mastercard and FrenchSys – a company aimed at facilitating the development of card payment acceptance in France – have decided to form a partnership.

On the basis of this agreement, Mastercard’s developments and innovations in payment technology will be made more readily available and make for easier deployment in line with other European countries.

Developing the business thanks to improved integration of the solutions

Some of these benefits include contactless payment with PIN code entry and no amount limit, card refunds immediately credited to an account, or innovations such as Mastercard’s new sound identity built into the payment process.

“This partnership will enable the banks adopting the system to develop their business thanks to improved integration of the solutions Mastercard deploys for retailers and businesses,” says Solveig Honoré Hatton, CEO of Mastercard France.

Régis Folbaum, Chairman of FrenchSys, said:

“Operating at the very core of the digital payment ecosystem in France, FrenchSys can help card schemes such as Mastercard to accelerate innovation roll-out in France, support merchant banks wishing to take advantage of all the innovative features of card schemes, and work with payment acceptance solution developers to improve and optimise their offering across the French market.”

Topics in this article:
  1. News
January 18, 2021updated 26 Jan 2021 10:27am

Mastercard and FrenchSys team up to boost payment innovation in France

By Mohamed Dabo

Mastercard and FrenchSys, which facilitates the deployment of electronic payment solutions at French acceptance points, have teamed up to speed up payment innovations across France.

Free Report
img

Prepare for changes in the Payments market

 The Payments market has seen drastic changes in the past few years, with this only expected to continue. What does your company need to do to prepare for what’s to come? GlobalData’s Payment Trends for 2022 report explores the key trends in technology, consumer habits, and regulations shaping the market. We also identify the leading companies in this changing market, giving you a competitive market outlook. This report covers the impact of:
  • ESG
  • E-commerce
  • Mobile payments
  • Alternative payment rails (Real-Time Payments, Blockchain, BNPL)
  • Fraud & Cybersecurity
  • Regulations
Download the report now to learn essential strategies to maximize your growth in the face of rapid change.
by GlobalData
Enter your details here to receive your free Report.

A service company created in January 2019, Frenchsys is a catalyst and facilitator for the deployment of electronic payment solutions on French acceptance points.

Every year, 130 million French and international consumers enjoy easy access to French electronic banking services, where transaction volumes are growing rapidly.

While France has historically been a forerunner in card payment technology, it needs to constantly innovate to remain at the leading edge along with its European counterparts.

Optimising product and service roll out

In addition to complying with European payment regulations, it is becoming increasingly important to provide features and innovations that meet the needs of consumers and merchants alike.

In this context, it is vital for Mastercard to ensure that its products and services are rolled out in France under optimal conditions.

It is against this backdrop that Mastercard and FrenchSys – a company aimed at facilitating the development of card payment acceptance in France – have decided to form a partnership.

On the basis of this agreement, Mastercard’s developments and innovations in payment technology will be made more readily available and make for easier deployment in line with other European countries.

Developing the business thanks to improved integration of the solutions

Some of these benefits include contactless payment with PIN code entry and no amount limit, card refunds immediately credited to an account, or innovations such as Mastercard’s new sound identity built into the payment process.

“This partnership will enable the banks adopting the system to develop their business thanks to improved integration of the solutions Mastercard deploys for retailers and businesses,” says Solveig Honoré Hatton, CEO of Mastercard France.

Régis Folbaum, Chairman of FrenchSys, said:

“Operating at the very core of the digital payment ecosystem in France, FrenchSys can help card schemes such as Mastercard to accelerate innovation roll-out in France, support merchant banks wishing to take advantage of all the innovative features of card schemes, and work with payment acceptance solution developers to improve and optimise their offering across the French market.”

Free Report
img

Prepare for changes in the Payments market

 The Payments market has seen drastic changes in the past few years, with this only expected to continue. What does your company need to do to prepare for what’s to come? GlobalData’s Payment Trends for 2022 report explores the key trends in technology, consumer habits, and regulations shaping the market. We also identify the leading companies in this changing market, giving you a competitive market outlook. This report covers the impact of:
  • ESG
  • E-commerce
  • Mobile payments
  • Alternative payment rails (Real-Time Payments, Blockchain, BNPL)
  • Fraud & Cybersecurity
  • Regulations
Download the report now to learn essential strategies to maximize your growth in the face of rapid change.
by GlobalData
Enter your details here to receive your free Report.

Topics in this article:
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