Fabrick partners with Banque Edel for gift card payments
By Gloria Methri
Banque Edel has joined hands with European Open Finance expert Fabrick to modernise the invoicing process of gift cards for its CSE customers.
The French full-service bank embraced Fabrick’s ‘Fabrick Pass’ (PISP) solution, allowing the seamless integration of payment processing into the accounting workflow. This innovation streamlines the entire process, from the initial request to reconciliation, all while maintaining continuous oversight.
As part of this collaboration, the traditional invoicing method, in conjunction with IBAN, a document confirming the bank account issued by French banks, has been redesigned. Alongside the invoice, a unique link is now dispatched, allowing customers to promptly activate and complete payments directly from their current accounts, without disrupting the accounting process.
The result is a streamlined process that simplifies accounting reconciliation, accelerates payment processing, and elevates the overall customer experience. This partnership marks a significant milestone for Banque Edel, which processed over 1000 gift card orders in the fourth quarter of 2022, amounting to approximately 14 million euros.
Frantz Wazé CEO of Banque Edel explained, “We are very pleased to offer this new payment service to our customers. This innovation accelerates the delivery of gift cards by simultaneously streamlining payment on the customer side and order management on Banque Edel’s side. This partnership opens new payment methods and use cases. Thanks to the responsiveness and support of the Fabrick teams.”
Paolo Zaccardi, CEO of Fabrick, added, “Our collaboration with Banque Edel solidifies our presence in the French market and throughout Europe, establishing us as a preferred partner for financial and non-financial organisations looking to embark on digitalisation and technological innovation journeys with embedded finance. Our solutions are designed to optimise financial processes, and the growing interest we are witnessing is a testament to the rising prominence of embedded finance as a reference model.”
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