From Breakingviews - Worldline seeks to crack tough French payments nut
, which was looking for a new payments ally after ditching a past accord with bankrupt Wirecard. A partnership with Crédit Agricole will allow Worldline to enter Europe’s top market for merchant payments, which several domestic banks still handle directly. The joint venture, set to be operational in 2025, will see Worldline owning 50% plus one share, with investment of 80 million euros split between the two players.
Analysts reckon the French bank will confer its entire merchant acquiring business to the new company.
by nearly 20% since Russia’s invasion of Ukraine amid concerns about lower consumer spending and as technology groups have fallen out of favour with investors. But this deal shows that payments companies still have some scope for dealmaking to improve their fortunes.
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