Credit Agricole acquires 7% stake in payments firm Worldline

By Gloria Methri

French bank Credit Agricole S.A. has acquired a 7% minority interest in global payment and transactional services company Worldline.

The investment builds upon the strategic partnership between Credit Agricole Group and Worldline S.A., an agreement for which was signed in July 2023. It is intended to strengthen this collaboration to create a major player in the French merchant payment services market.

In addition to the strategic partnership, the acquisition demonstrates the banking group’s intention to support Worldline’s development and implementation of its strategy as a key European payment services provider.

Through this transaction, the bank is reaffirming confidence in its partner: a strong franchise, leading-edge technologies, and proven innovation capabilities, at the service of its customers.

The preparatory work for the creation of the announced joint venture between Credit Agricole Group and Worldline is progressing according to the announced schedule, with an operational launch planned in 2024, as soon as the customary regulatory approvals have been obtained.

Worldline is a global leader in the payments industry and the technology partner for numerous merchants, banks and acquirers in Europe. Powered by c. 18,000 employees in more than 40 countries, the company provides its clients with sustainable, trusted and innovative solutions fostering their growth.

Services offered by Worldline include in-store and online commercial acquiring, highly secure payment transaction processing and numerous digital services. In 2021, the PayTech generated a proforma revenue of close to 4 billion euros.

Credit Agricole S.A. seeks to remain a long-term minority shareholder, fully committed alongside Worldline. The transaction is expected to have an impact of less than 10 basis points on the CET1 ratio of the bank.