La Banque Postale and Natixis announce Natixis’ acquisition of La Banque Postale’s 50% stake in Titres Cadeaux
Natixis today announces the acquisition of La Banque Postale’s 50% stake in Titres Cadeaux and becomes the company’s sole shareholder after it was set up by the two banks in 2006. Le Groupe La Poste will remain a prime business partner via a contract to distribute Titres Cadeaux gift vouchers in its post office branches, while Natixis Payments plans to step up development of Titres Cadeaux gift products with all its client groups, particularly works councils and the staff they represent.
Titres Cadeaux designs and manages the distribution of multi-brand gift vouchers and cards under the Cado Chèque, Cado Carte and E-Cado Carte names. It is the fourth largest operator on the gift voucher market in France and issued a total of €123m at end-2017, which it distributes to individual customers via post office branches and on a B2B basis through company works councils. The vouchers are accepted by 600 banners and 170 websites.
This acquisition rounds out Natixis Payments’ Benefits range, providing customers with an extensive value proposition on the prepaid gift market – which is worth more than €4bn in France – and also enables it to derive the benefits of similarities between Cado and its services Comitéo (platform and marketplace designed for works councils) and Le Pot Commun (online money pot and social payment). “Our teams can now work together to develop joint services, strengthen relationships with major brands and develop new digital uses by leveraging Natixis Payments’ and its S-money platform’s expertise in online gift cards and digital issue technologies. More broadly speaking, this move is part of Natixis Payments’ strategy to become a major name in prepaid services for companies and merchants” notes Nicolas Chatillon, Head of Issuing and Prepaid solutions at Natixis Payments.
This disposal is also part of La Banque Postale’s strategy to review its production and distribution model on its non-core businesses.
Le Groupe La Poste will continue to exclusively distribute Titres Cadeaux products in both voucher and card form.
La Banque Postale press contacts:
Gilles Petit Florian Pontarollo
Tel.: +33 1 55 44 22 42 Tel.: +33 1 55 44 22 38
Natixis Payments provides user-centric and tailored solutions across Europe for retail, corporates, SMEs, public authorities, associations, financial institutions, fintechs and individuals. Part of Groupe BPCE, the 2nd-largest banking group in France, Natixis Payments draws on its technology, its fintech affiliates and its expert staff to develop solutions in-house and with carefully selected partners. It delivers an extensive range of products that covers the entire value chain of payments, from issuing to acquiring, and from e-payments through e-wallets to pre-paid cards.
It was the first payments provider to integrate Apple Pay, Samsung Pay and Instant Payment in France, and is the leading issuer of Visa cards in continental Europe, managing 20 million cards and 7 billion transactions annually.
For its clients and their customers, Natixis Payments is committed to building a better payment experience every day.
Banque Postale, a subsidiary of Le Groupe La Poste, is present in the retail banking, insurance and asset management markets. As a civic-minded bank, it supports its customers by offering a sustainable banking relationship with an extensive range of reasonably priced and accessible products and services. As a local bank providing a public service, La Banque Postale meets the needs of everyone: private individuals, businesses, professionals, associations and the local public sector. It strives to serve its customers through the network of post offices, online and over the telephone as part of a fully multi-channel relationship.
La Banque Postale is:
- 5.687 billion euros of NBI
- 10.5 million active clients
- almost 400,000 Businesses, Professionals, Local Authorities and Associations as customers
- 8 million bankcards
Figures at the end of 2017