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October 21, 2016updated 04 Apr 2017 12:43pm

BNP Paribas and Credit Mutuel to merge their digital wallets

A pair of digital wallets backed by French banking groups BNP Paribas and Credit Mutuel are set to merge into a unified platform.

A pair of digital wallets backed by French banking groups BNP Paribas and Credit Mutuel are set to merge into a unified platform.

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Under the plan, Wa!, backed by BNP and retail giant Carrefour, will merge with Fivory- that is backed by Credit Mutuel, Mastercard, Auchan, Oney, and Total.

Crédit Mutuel chairman Nicolas Thery said: “In forging this agreement we’re pooling our expertise in order to respond to the changes in consumer behaviour, propelled by the ubiquitous use of smartphones. 

“Together we’re taking a major step towards widespread use of mobile payments and the consequent enhancement of the customer relationship.”

The unified app will enable customer to pay for purchases both in-store and online, use personal loyalty benefits plus coupons, special offers, as well as new mobile payment services such as peer to peer money transfers and an invoice settlement facility.

The app is anticipated to be launched under a new brand name in early 2017.

BNP Paribas Group CEO Jean-Laurent Bonnafe said: “This constitutes a new phase for our initiative. We’re seeing growing interest in the market for such a solution and it’s now vital that the complementary players work together to build and make available a solution able to meet new customer expectations in this changing world.”

Free Whitepaper
img

Never Trust, Always Verify: Is Zero Trust the Next Big Thing in Cybersecurity?

Cyberattacks continue to rise every year and no sector seems to be immune. Hackers target sensitive information such as organizational, client, and financial data, as well as intellectual property (IP) and proprietary functions. As digital transformation becomes a top priority for many organizations, traditional perimeter-based security models are no longer sufficient to address the growing cybersecurity concerns. Against the backdrop, enterprises explore zero trust as it takes a micro-level approach to authenticate and approve access at every point within a network. Reasons to read: The cybersecurity landscape is swiftly changing, and businesses need more awareness to meet the evolving change. The report highlights the current state of play and the future potential of the zero trust approach in cybersecurity to protect critical digital infrastructure of enterprises across sectors such as financial services, healthcare, telecom, and transportation, among others. Read our report and gather insights on the following topics:
  • Traditional vs zero trust protection
  • Key advantages and solution providers
  • Major industries and key players
  • Drivers and challenges
  • Top funded startups and Mergers & Acquisitions
  • Implementation challenges
by GlobalData
Enter your details here to receive your free Whitepaper.

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