BNP Paribas Fortis and Worldline have agreed the terms under which the Bank will take over the business activities of PaySquare in Belgium. This transaction follows a decision last year by the European Commission under the EU Merger Regulation in relation to Worldline’s takeover bid for Equens and its subsidiary PaySquare.
The agreement, which covers only the Belgian market, relates to the contracts with and data from some 7,000 merchants (clients of PaySquare in Belgium), plus the commercial partnerships in force for the purpose of contract sales and the sales staff concerned.
This takeover is in line with BNP Paribas Fortis’ aim of expanding its footprint in the domestic payment acquisition market and injecting a new dynamic into this segment by providing a highly competitive service to private and public sector companies, merchants and members of the liberal professions. “Innovating and constantly providing our customers with new opportunities is our daily ambition. This project also fits perfectly in this context. Bringing PaySquare’s Belgian portfolio into the BNP Paribas Fortis fold is part of our overall aim of helping our clients to expand their business by providing a comprehensive range of banking services designed for the merchant sector”, explained Peter Vandekerckhove, Head of Retail & Private Banking and executive board member at BNP Paribas Fortis.
Over the next few months, BNP Paribas Fortis will take over the management of PaySquare’s client portfolio in Belgium, in collaboration with its partner SIX Payment Services. “We cordially welcome the new BNP Paribas Fortis clients and we look forward to providing them with high-quality services, declared Roger Niederer, Head of Merchant Services at SIX Payment Services, underlining: Thanks to this move by BNP Paribas Fortis, SIX now becomes the second biggest acquirer on the Belgian market.”
The former PaySquare Belgium clients will enjoy the same tariff conditions as before and will be able to continue using their existing payment terminals. In addition, BNP Paribas Fortis is able to guarantee merchants that they will have the proceeds of a given day on their account by the following day, both for physical and online payments. Moreover, any disputes will be handled without incurring any extra charges.
Concerned clients will be contacted personally by BNP Paribas Fortis on this matter.
BNP Paribas Fortis (www.bnpparibasfortis.com) offers the Belgian market a comprehensive package of financial services for private individuals, the self-employed, professionals, SMEs and public organisations. In the insurance sector, BNP Paribas Fortis works closely with Belgian market leader AG Insurance. The bank also provides wealthy individuals, corporations and public and financial institutions with custom solutions for which it can draw on BNP Paribas’ know-how and international network.
BNP Paribas (www.bnpparibas.com) BNP Paribas is a leading bank in Europe with an international reach. It has a presence in 74 countries, with more than 190,000 employees, including more than 146,000 in Europe. The Group has key positions in its three main activities: Domestic Markets and International Financial Services (whose retail-banking networks and financial services are covered by Retail Banking & Services) and Corporate & Institutional Banking, which serves two client franchises: corporate clients and institutional investors. The Group helps all its clients (individuals, community associations, entrepreneurs, SMEs, corporates and institutional clients) to realise their projects through solutions spanning financing, investment, savings and protection insurance. In Europe, the Group has four domestic markets (Belgium, France, Italy and Luxembourg) and BNP Paribas Personal Finance is the leader in consumer lending. BNP Paribas is rolling out its integrated retail-banking model in Mediterranean countries, in Turkey, in Eastern Europe and a large network in the western part of the United States. In its Corporate & Institutional Banking and International Financial Services activities, BNP Paribas also enjoys top positions in Europe, a strong presence in the Americas as well as a solid and fast-growing business in Asia-Pacific.
SIX Payment Services (www.six-payment-services.com) offers financial institutions and merchants secure, innovative services along the entire value chain of cashless payments. Our tailor-made solutions include settlement of domestic and international payments by credit, debit and prepaid card. One of Europe’s largest card transaction processors and market leader in Switzerland, Austria and Luxembourg, SIX Payment Services ensures that card-based payments in Switzerland and abroad are both accepted and processed. With around 1,100 employees and 10 locations worldwide, SIX Payment Services supports clients in 33 different countries.
