BNP Paribas and Sia partner to launch new payment cards in Europe
By Leandra Monteiro
BNP Paribas partners with SIA, a European hi-tech company in payment services and infrastructures, controlled by CDP Equity, to support the launch of co-branded cards with major commercial partners in France and other European countries.
Thanks to this agreement, SIA’s technology infrastructure will process digital and physical cobranded cards issued by BNP Paribas. SIA’s platform supports the management of payments cards of multiple commercial partners and includes also advanced services for the management and prevention of fraud and chargebacks, as well as solutions to speed up the authentication process for online payments while ensuring safe e-commerce purchases.
BNP Paribas also leverages on SIA’s digital on-boarding and Open Banking platforms to enroll new customers using mobile apps and access information pertaining to different bank accounts, in line with the opportunities deriving from the introduction of Payment Services Directive 2 (PSD2).
Through SIA platforms, BNP Paribas enables its commercial partners to improve their loyalty programs with an enriched customer experience. Accor, a world leader in hospitality, is the first corporate to benefit from the agreement to launch a new payment card in France, with a progressive roll-out in Europe. The card, available in several versions, will offer members the opportunity to collect loyalty points when making everyday purchases and to receive additional benefits tailored to their interests.
“The payment card market is undergoing a huge transformation, particularly in Europe, both functionally and technologically. Today, it is one of the major drivers enriching the customer experience and introducing higher added value services and offers. As a European banking group, we continuously innovate in terms of payment solutions to support customers with their new habits and aspirations. This partnership with SIA will enable us to roll out co-branded cards in France and in Europe, offering Loyalty programs in various ecosystems,” said Carlo Bovero, Global Head of Cards and Innovative Payments at BNP Paribas.
“We are proud to have strengthened our long lasting relationship with BNP Paribas Group, supporting their cobranded card business evolution across Europe. Our digital payment platforms streamline the on-boarding process of BNPP end users, with respect to PSD2 security requirements, and enable the enriching of the customer experience by introducing higher added value services and offers,” stated Eugenio Tornaghi, Marketing & Sales Director of SIA. “This partnership represents a further step forward in SIA’s positioning as a trusted technology partner for the main European banking groups in the fields of e-money and cross border payment services”.
IBSi Daily News Analysis
May 20, 2022
Rethinking retail banking strategies, What to watch in 2022Read More
IBSi FinTech Journal
- Most trusted FinTech journal since 1991
- Digital monthly issue
- 60+ pages of research, analysis, interviews, opinions, and rankings
- Global coverage