Visa Europe and Carte Bleue Complete Merger
Visa Europe and SAS Carte Bleue have merged their operations in France and created Visa France. Gerard Nebouy, directeur general, will head the new organisation, reporting to Philippe Menier, deputy chief executive officer (CEO) of Visa Europe.
Visa France extends Visa Europe’s association model by establishing more direct relationships with French banks in order to meet their needs more closely. This deal represents a significant investment in France by Visa Europe, with a dedicated workforce that will work with Visa Europe’s members in France to develop and deliver innovative, value creating solutions to meet their customers’ needs.
A national organisation will be set up with representatives elected from French members of Visa Europe. This board will provide local governance and set priorities for the French market.
Philippe Menier, deputy CEO of Visa Europe, said: “I am delighted the merger of Carte Bleue and Visa Europe in France is now complete and that we have created Visa France. The newly merged organisation will provide the best of both worlds for French banks – a SEPA [single euro payments area] compliant development of their card payments business in France with local control, building on our successes, and offering direct access to a range of services and expertise. Visa Europe’s decision to remain a European owned and controlled membership association was key to this decision. As a membership association, Visa Europe ensures that all important decisions are decided through full consultation with its member banks.”