Visa Europe and SAS Carte Bleue have announced the completion of the merger of their operations in France and the creation of Visa France.
The new organisation extends Visa Europe's association model by establishing more direct relationships with French banks in order to meet their needs more closely. This deal represents a significant investment in France by Visa Europe, with a dedicated workforce that will work with Visa Europe's members in France to develop and deliver innovative, value creating solutions to meet their customers' needs.
A national organisation will be set up with representatives elected from French members of Visa Europe. This board will provide local governance and set priorities for the French market.
The new organisation's management will be headed by Gerard Nebouy as the Directeur Général reporting to Philippe Menier, Deputy CEO of Visa Europe.
Philippe Menier, Deputy Chief Executive of Visa Europe, said: "I am delighted the merger of Carte Bleue and Visa Europe in France is now complete and that we have created Visa France. The newly merged organisation will provide the best of both worlds for French banks - a SEPA compliant development of their card payments business in France with local control, building on our successes, and offering direct access to a range of services and expertise. Visa Europe's decision to remain a European owned and controlled membership association was key to this decision. As a membership association, Visa Europe ensures that all important decisions are decided through full consultation with its member banks"
Gerard Nebouy, Directeur Général of Visa France, said: "The new organisation Visa France, aims to develop new value-added payment solutions for all stakeholders - and specifically for retailers and consumers. We expect to see continued growth in the French market as we focus on meeting the needs of our members and their customers".
Through this merger, Visa Europe and Carte Bleue aim to provide the best choice in card payments for banks, retailers and consumers in the French market.