Banque de France and Caisse des Dépôts create Victoires Paiements
Banking - 20 April 2012
Banque de France and Caisse des Dépôts create Victoire Paiements, an Economic Interest Grouping (GIE) held equally. It will gather the means of retail payment exchange activity of both institutions.
The retail payment exchange systems activity between financial institutions is currently almost totally dematerialised and is conducted through interbank systems. The exchange activity includes the receipt of transaction files sent by the customers of each institution, their verification, their recognition and their issuing to the interbank systems which then send them to all of the banks in the French financial system.
With an accumulated volume of about 1.2 billion transactions, the combining of the exchange activities of the Banque de France and Caisse des Dépôts will allow the critical mass to be obtained necessary for the processing of the payment instruments of the two public operators. It will offer customers of the two institutions stability and greater solidity in the processing processes.
This partnership will allow Caisse des Dépôts and Banque de France to share the costs relating to the modernisation of the information system caused, in particular, by the changeover to the Sepa (Single Euro Payments Area) standards and its maintenance in the long term.