- 3 min
Cedicam, a Crédit Agricole Group subsidiary specialising in payment processing, is changing its name to Crédit Agricole Cards & Payments in order to develop its presence in the European payments market
To offer its services and develop its presence in the European market, Cedicam - an economic interest group (“GIE”) of the Crédit Agricole Group - is changing its company name to Crédit Agricole Cards & Payments. This new brand name expresses the company’s business activities, its position as part of the Crédit Agricole Group and its expansion aims for Europe.
With 500 employees and well known expertise, Crédit Agricole Cards & Payments processes payment transactions by clients of the Crédit Agricole Group’s banks. It processes around 8 billion transactions a year, representing around €200 billion a day.
In 2008, the Crédit Agricole Group decided to invest in creating a state-of-the-art pan-European industrial platform meeting SEPA requirements, able to process all of its clients’ payment transactions and operations. This multi-bank and multi-currency platform is now in the process of being finalised and rolled out, and is gradually entering into service. 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.
Currently market leader in France, Crédit Agricole Cards & Payments’ aim is to serve clients looking for a comprehensive end-to-end range of services, in the form of more targeted payments services. The new platform constitutes a real tool in the industrialisation of payment processing in Europe, allowing for increased volumes in order to achieve economies of scale and thereby reducing costs for the benefit of clients.
Crédit Agricole Cards and Payments in 2011:
- Market leader in payment processing in France: 30% market share in electronic banking, 35% market share in payment flows
- Around 8 billion transactions a year, representing around €200 billion a day in terms of issues and receipts
- Leading customiser of bank cards in France with 7.2 million cards produced on average each year
- 4.5 billion electronic banking transactions a year, including 1.5 billion card authorisations
- Largest ATM network with over 22,000 ATMs connected
- 300,000 merchant contracts
- Centralised cash management: €120 billion a year
- 70 million messages exchanged on the