Mastercard joins forces with FrenchSys to enhance and speed up the roll-out of new payment features and innovations across FranceJanuary 18, 2021 | Paris
Every year, 130 million French and international consumers enjoy easy access to French electronic banking services, where transaction volumes are growing rapidly. While France has historically been a forerunner in card payment technology, it needs to constantly innovate to remain at the leading edge along with its European counterparts.
In addition to complying with European payment regulations, it is becoming increasingly important to provide features and innovations that meet the needs of consumers and merchants alike. In this context, it is vital for Mastercard to ensure that its products and services are rolled out in France under optimal conditions.
It is against this backdrop that Mastercard and FrenchSys – a company aimed at facilitating the development of card payment acceptance in France – have decided to form a partnership. On the basis of this agreement, Mastercard’s developments and innovations in payment technology will be made more readily available and make for easier deployment in line with other European countries. Some of these benefits include contactless payment with PIN code entry and no amount limit, card refunds immediately credited to an account, or innovations such as Mastercard’s new sound identity built into the payment process.
“We are delighted about our partnership with FrenchSys, which aims to enhance the quality of service we provide to merchants and consumers by making our payment features more readily available so as to deliver a better shopping experience. This agreement illustrates our determination to deploy more and more innovative, practical and secure products and services across the French market. This partnership will enable the banks adopting the system to develop their business thanks to improved integration of the solutions Mastercard deploys for retailers and businesses,” says Solveig Honoré Hatton, CEO of Mastercard France.
“Through this agreement with Mastercard, FrenchSys gains another opportunity to bring its customers the advantages of its multi-scheme card and payment method acceptance facilitation and consolidation offering in France. Operating at the very core of the digital payment ecosystem in France, FrenchSys can help card schemes such as Mastercard to accelerate innovation roll-out in France, support merchant banks wishing to take advantage of all the innovative features of card schemes and work with payment acceptance solution developers to improve and optimise their offering across the French market” adds Régis Folbaum, Chairman of FrenchSys.
About FrenchSys :
FrenchSys was created January 1st, 2019 and is a service company dedicated to facilitating the development and the improvement of card acceptance and acquiring solutions in France.
Although FrenchSys is a new player in the card payment ecosystem, it is in fact a highly experienced and widely recognized specialist, – with a 35 years of expertise in the fields of acceptance and acquisition of bank cards and major French payment systems.
With its multi-brand, multi-technologies and multi-channel positioning, FrenchSys serves a French market that has more than 2 Million acceptance points through its different customer segments: acquirers, card acceptors, domestic and international card schemes, as well as card solution vendors.
In the current context where integration and interoperability of card acceptance solutions are key, FrenchSys is keen to develop its service offering to the different card stakeholders and play its role of neutral facilitator on the French card acquiring market, in close partnership with its sister-company ELITT, specialised in testing and reliability checking of payment solutions.
About Mastercard (NYSE: MA)
Mastercard is a global technology company in the payments industry. Our mission is to connect and power an inclusive, digital economy that benefits everyone, everywhere by making transactions safe, simple, smart and accessible. Using secure data and networks, partnerships and passion, our innovations and solutions help individuals, financial institutions, governments and businesses realize their greatest potential. With connections across more than 210 countries and territories, we are building a sustainable world that unlocks priceless possibilities for all.