Open Payment: BPCE and Visa Team Up Ahead of Paris 2024 Olympics

Open Payment: BPCE and Visa Team Up Ahead of Paris 2024 Olympics

FACTS

  • Ahead of the Paris 2024 Summer Olympics and Paralympics, the US card scheme Visa and the French banking group BPCE are joining forces to boost and generalise card and mobile payment in subways and buses.
  • Goal: make seamless payment experiences available across Paris public transport network and nationwide.
  • Partners: some transport operators are involved in this project, including the RATP (Paris), transport organisation authorities (e.g.: Île-de-France Mobilités), and local administrations.
  • BPCE, through their subsidiary Natixis Payments, and Visa would be building a task force to eventually include 20 people.
  • Payment cards would be key to this project and likely to replace metro tickets. Visa and BPCE are also considering letting travellers/commuters pay using their mobile phone or connected devices.

CHALLENGES

  • Promising opportunity. Roughly 13 million people (nationals and foreigners) are expected to attend the Olympics in 2024. This event would represent over 1 billion journeys in Paris and in other French regions. It would then be a fine occasion to highlight new technologies. Based on their respective systems, Visa and BPCE are aiming to capture several hundreds of millions of transactions.
  • Reenacting an Open Payment success. For over a year, Visa and Natixis Payments have been enabling residents and visitors in Dijon to use their payment card to pay and validate their transport tickets. In March, Keolis Dijon Mobilités claimed over 80,000 users. These groups are now hoping to hit success nationwide.

MARKET PERSPECTIVE

  • During the 2019 FIFA Women's World Cup, Visa and BPCE also teamed up, and supporters made over 51% of their purchase using contactless connectivity.
  • Visa isn’t the only card scheme focusing on Open Payment opportunities, their long-standing competitor is working on similar projects. Four months ago, Mastercard partnered with Chartres so passengers could use their contactless card to validate their journeys on the Filibus network.

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