PARIS, Sept 17 French banks BNP Paribas
and Societe Generale are teaming up with
France's state-owned postal bank to launch an electronic
payments service, hoping to counter already dominant players
such as eBay's PayPal.
The three banks unveiled the project - dubbed "Paylib" - on
Tuesday, saying their customers would soon be able to use the
service to set up a personalized electronic wallet, allowing
them to make secure, online payments without having to enter
their credit or debit card details on each new website.
"We three banks have worked very closely together but we are
open (to more)," said Laurent Goutard, head of SocGen's French
Rivals Credit Agricole and Natixis
parent BPCE already have their own e-payment brands,
respectively named "Kwixo" and "S-Money".
As well as capturing a growing market for consumer purchases
online, the new service shows how banks are having to
increasingly defend their turf as traditional branch banking is
eclipsed by new, increasingly web-based, distribution channels.
BNP, France's biggest bank, recently launched an online-only
brand, "Hello Bank", designed to bring in deposits from
countries like Germany and Italy without opening new branches.
(Reporting by Lionel Laurent and Matthias Blamont; Editing by