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.”