A new objective
In 2013, the U Group had 1,500 outlets, which were generating 360 million card transactions per year, with each outlet negotiating independently with its own local banks. As such, 81 percent of card flows were distributed across four major banks. U Group observed that banking commissions were not being optimized whatsoever. Furthermore, European regulations on Payment institutions (PSD1) had been relaxed since 2011.
Taking all this into account, U Group decided to structure its financial flows and actively manage its relationships with banks. But it needed help to do so.
1,500
outlets in 2023
360 million
card transactions per year
81%
card flows distributed
across 4 major banks
A trio of partners
U Etablissement de Paiement (U EP) sought the backing of recognized and solid partners with experience in card payments. And so, U EP established partnerships with Monext, IT cards solution provider; Crédit Mutuel Arkea, leading bank; and SAB, a Sopra Banking Software company, that took charge of banking IT.