Groupe BPCE Merges Payplug and Dalenys Into Single Payments Subsidiary
Two subsidiaries of French retail banking conglomerate Groupe BPCE are set to join forces in a move to consolidate the group’s FinTech operations.
Payplug, an omnichannel payments solution designed for small and medium-sized businesses (SMBs) and Dalenys, an eCommerce-focused payment platform, are being combined and will henceforth operate under the Payplug brand, Groupe BPCE said in a news release.
Payplug CEO Antoine Grimaud said the two subsidiaries are being joined “we with the aim of becoming the go-to payments partner for traditional merchants, e-merchants, SMEs and large corporations in both France and Europe.”
He added, “Our strong fit and shared values are set to reinforce our unique position in the market. Our teams stand ready to redefine payment performance in order to help our clients grow their businesses faster in France and Europe.”
Pierre-Antoine Vacheron, CEO Payments of Groupe BPCE, said that “the merger of Payplug and Dalenys marks a new stage in Groupe BPCE’s strategy of offering merchants a leading French alternative for digitalizing their sales and payments.”
Citing “the two companies’ combined know-how, a 400-strong workforce and critical size,” Vacheron said the new combined Payplug payments subsidiary “will further reinforce its attraction on the payments market and maximize synergies with all the lines of expertise housed within BPCE Digital and Payments.”
The decision to combine the Payplug and Dalenys brands comes at a time when competition is heating up in the French payments market.
As well as offerings from global players that focus on eCommerce or in-person point-of-sale (POS) solutions, companies like VTEX have their own strong omnichannel proposition and see France as a key market, as VTEX GM for France told PYMNTS recently.
Watch the interview: EMEA Fireside Chat with Philippe Peyresaubes, GM of France at VTEX
For all PYMNTS EMEA coverage, subscribe to the daily EMEA Newsletter.