Three French Banks Team up for Internet Payments
BNP Paribas, Société Générale and the Postal Bank announced on Tuesday the launching of a new digital payment service to secure transactions of their clients, both individuals and merchants, France Les Echos reports.
Named “Paylib”, this payment mode will allow 23 million customers from three French banks to make their purchases online from a computer, smartphone or tablet without communicating their bank details.
The new offer, deployed on the Internet and also under the form of iOS and Android applications, is intended to be a response to American service PayPal (eBay group), very popular on the web, which gives its users the ability to perform transactions using an electronic mail address.
“Our three banks carried on an intense cooperation, but we are open (to other players),” announced Laurent Goutard, director of retail banking at Société Générale in France, during a press conference.
The Paylib service is free for individuals but the merchants will have to pay for it. The user can process the purchase with his own password, but the system will suggest to use as many payment cards as he wants, as long as they have been distributed by the institutions concerned.
Several large retailers such as voyages-sncf.com, Leroy Merlin, PriceMinister or venteprivee.com have announced that they will propose Paylib to their customers. Others should follow in case of success.
BNP, Société Générale and Postal Bank have decided to combine their efforts to reach, from the outset, an important mass of users as online payment has emerged in recent years. Despite PayPal being present in France since 2004, French banks have delayed their launch. In 2011, Crédit Agricole had set up its own payment service, Kwixo, followed after by BPCE with S-Money.
The mobile operators also want their share of the market. Orange, SFR and Bouygues Telecom unveiled at the beginning of 2011 a solution of common payment, Buyster. Laurent Goutard didn’t want to give details on the fees charged to merchants on purchases made through Paylib, but he assured that the offer was “competitive” when compared to PayPal.