Societe Generale strengthens its payment solutions in Europe

Societe Generale has signed an agreement to acquire a majority stake in the fintech PayXpert. The acquisition will allow the bank to broaden its offering for retail and online merchants and pursue its ambition to be a leader in payment acceptance in Europe. Together, Societe Generale and PayXpert will contribute to developing retail and online merchants’ business by offering them differentiating and value-added services encompassing payments and complementary services such as financing and insurance solutions.

Societe Generale constantly innovates to address new customer journeys. The bank has completed its offering with solutions for marketplaces, as well as payment initiation services for both e-commerce and physical points of sale.

“This acquisition will enhance our payment solutions offering by providing increasingly comprehensive and innovative services to our retail and online merchants. It reflects our determination to maintain an integrated approach to payments and is consistent with Societe Generale’s long-standing and innovative policy of cooperation with fintechs,” said Aurore Gaspar Colson, Deputy Head of Societe Generale Retail Banking in France.