Payment. Will Floa Bank be taken over by BNP Paribas?
According to Les Echos, BNP Paribas is in a good position to buy Floa Bank (ex-Casino Bank) and integrate expertise for fractional payments, a major trend in e-commerce. Floa is also a specialist of instant and mini consumer loans developed through partnerships with Lydia and Bankin’. Floa Bank is a preferred partner of retailers, offering a four-instalment payment solution, with 3 million customers at the end of 2020. On 29th March 2021, BNP Paribas submitted a final offer to acquire at least 50% of Floa Bank’s capital, following the withdrawal of Crédit Mutuel Alliance Fédérale. Previous owner Casino Group wants to remain as a shareholder.