Xavier Niel enters the payment market with StancerPay

Xavier Niel enters the payment market with StancerPay

(Reuters) – Xavier Niel, founder and owner of French telecoms group Iliad, is entering the payments market with the same low-cost logic that already applies to its mobile phone operations. The payment solution, dubbed StancerPay and developed by an Iliad subsidiary, was launched on Tuesday and aims to expand to other European countries where the group already has a presence – such as Poland and Italy – said George Owen, CEO by puncher. “We want to be Iliad’s alter ego in the payments world,” he said, adding that Stancer’s commission fees are two to three times lower than those of its competitors, which it declined to name. The payments market includes larger companies such as American Stripe and Dutch Adyen and is currently valued at around EUR 40 billion. In France, the startup Smile&Pay plays on the same ground. According to Stancer, the variable commission for payments made with a credit card from the European Economic Area would be 0.7%. Transactions made by StancerPlay through a terminal owned by the American company Verifone will be processed free of charge for amounts under 7 euros, the company said.

In comparison, Stripe applies variable commissions of 1.4% and Smile&Pay 1.65%. Stancer currently has 25 employees and says all software is developed in-house. The company was originally formed in 2018 to process Iliad’s payments. She declined to reveal details about her finances and business goals.

(Report by Mathieu Rosemain, French version by Augustin Turpin, edited by Kate Entringer)

Reference: www.challenges.fr

It is always my pleasure to provide insightful information on important topics and if you have learned something from my article then I thank you for taking the time to share it with your friends or family.

We put a lot of heart and invest a lot of time trying to bring you the most interesting articles.
You would encourage us to do it even better in the future. Thank you!

Related Posts: