Digital financial technology provider Wirecard and Crédit Agricole’s fully-owned subsidiary Crédit Agricole Payment Services (CAPS) have announced the next stages of their strategic partnership.

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Image: Wirecard and CAPS have announced next stages of digital payment agreement. Photo: courtesy of Michal Jarmoluk / Pixabay.

Under the next stages of their digital payment agreement, Wirecard and CAPS will work on digital commerce and introduce a range of cross-channel acceptance and pan-European acquiring services.

CAPS CEO Bertrand Chevallier said: “Our partnership with Wirecard means for us taking big steps in terms of bringing value-added services to customers of Crédit Agricole that improve the user experience. We are focusing on innovations to our merchants in France and the whole of Europe.”

CAPS will be the first European partner to access Wirecard’s new e-commerce shop extension solution, which will be launched at the end of this year.

The pilot phase of the new e-commerce shop extension solution will begin at the end of summer. With automatic updates, the solution enables to constantly enhance the digital shopping experience for consumers and offer an advanced unified commerce solution.

Wirecard and CAPS have agreed on joint commercial business routes for tier 1 merchants, following a comprehensive technical integration of their technologies. The firms have already issued business plans to multiple large strategic accounts.

The customers can access Wirecard’s new e-commerce payment acceptance and acquiring services, which will be provided by both firms.

Wirecard fintech and financial institutions EVP Thorsten Holten said: “Since announcing our partnership, we have been working constantly on developing joint state-of-the-art digital payment solutions as well as an effective go-to-market strategy, especially for tier 1 customers.

“Once it is in place, we will work on expanding our offering including our unique white labelling proposition aimed at accelerating the integration of merchants’ online shops with our innovative financial commerce platform.”

Wirecard offers business customers and consumers with an expanded ecosystem of real-time value-added services in areas such as payment and risk, retail and transaction banking, loyalty and couponing, data analytics and conversion rate enhancement in all sales channels.

CAPS is a provider of payment solutions with a market share of around 30% and more than 10 billion transactions processed in 2017.