FDJ Boosts their Payment Activity with Bimedia

FDJ Boosts their Payment Activity with Bimedia

FACTS

  • La Française des Jeux acquires the Bimedia, payment service provider focusing on in-store checkout.
  • Goal: expand their range of services especially payment services.
  • Bimedia was launched in 2002. They feature in-store digital services including payment, money transfer and advertising solutions.
  • Regarding the money transfer industry, their list of clients includes: Orange Money, Ria and MoneyGram.
  • Through this acquisition, the newly created group would be able to implement a broader, multi-operator money transfer offer.
  • This transaction is including approval by the French competition authority (Autorité de la concurrence). It will rely on the assessment that Bimedia is worth under €50 million, and will be paid with FDJ’s cash reserves.

Bimedia: Key figures

  • 140 employees
  • 6,400 stores in France
  • 90% are newsagents and tobacconists

CHALLENGES

  • Strategic move. This acquisition should enable La Française des Jeux to speed up the development of their payment activity, in compliance with their strategic plan for 2025. FDJ says they want to focus on their commitment to expanding and modernising their network, through crafting value-added services.
  • Likewise, FDJ also won a tender from the French General Directorate of Public Finances (Direction générale des finances publiques) on outsourcing public treasuries’ cash and card-based payments.

MARKET PERSPECTIVE

  • Last week, La Française des Jeux took its first steps on the stock market. As the group is being privatised, roughly 500,000 individual customers subscribed. This operation should earn €2.1 billion to the French state.
  • Also, this isn’t the first time they are looking into the payment and money transfer industries. In 2017, they teamed up with Western Union to expand their range of offers at newsagents (with a money transfer option).

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