BNP Paribas has signed a Memorandum of Understanding for the purchase of a 95 per cent stake in France’s Financière des Paiements Électroniques (FPE), the firm which runs banking startup Compte-Nickel.

FPE provides the Compte-Nickel payments account, which boasts 540,000 accounts being opened over the past three years and a new account being opened in France every 30 seconds. Compte-Nickel processes are 100 per cent digital, while payments are completed in real-time.

Through the new deal, FPE hopes to speed up the acquisition of new customers, with a target of two million customer accounts by 2020.

Pascal Montredon, president of the Confédération des Buralistes, said: “From the very start, the Confédération des Buralistes has been the strategic partner to Compte-Nickel, ensuring its exclusive distribution. BNP Paribas joining the partnership gives us an opportunity to secure and strengthen this strategic agreement.

“Our target is to increase fourfold within a few years the number of local retailers who distribute Compte-Nickel. In addition, it is expected that the Confédération and BNP Paribas will study together any project contributing to modernise the Buralistes’ network.”

Thierry Laborde, group deputy chief operating officer at BNP Paribas, added: “By making this investment along French Buralistes, BNP Paribas is further extending its partnership range, both in terms of service and customer.

“The Compte-Nickel offering will remain distinct from, and complementary to, the products and services provided by the BNP Paribas branch network and Hello bank! Like all the startups with which we have already long-term cooperation, Compte-Nickel will remain independent from the rest of the group.”

Share Story: