April 5, 2013
Desjardins Group and Crédit Mutuel-CIC Group launch international
payment solutions partnership
MONTREAL, PARIS – Desjardins Group and Crédit Mutuel-CIC Group, a first-tier mutualist financial institution in Europe, have announced the creation of Monetico International (MI). Based in Montreal, the organization will offer innovative payment solutions for the merchant clients of both financial institutions.
Thanks to this collaboration, MI will count among the top ten largest organizations specializing in payment solution services on a global scale, with more than 400,000 merchants and over 3.3 billion payment transactions annually.
MI will pool the expertise of these institutions to lay the foundation for an organization that will coordinate acquirer payment solutions over two continents, which will eventually expand worldwide. Each group will operate its respective acquirer payment solutions from a shared platform, and will jointly develop compliance solutions with international standards.
Together, Desjardins and Crédit Mutuel are fulfilling their vision of becoming a single, global acquirer, always striving to best meet the needs of their merchants, regardless of size. The Monetico brand will support this vision and international business development for both organizations.
"These new developments speak to our willingness to strengthen our business ties. Thanks to a partnership that we established few years ago, our merchants will benefit from the services offered on either side of the Atlantic. By taking a global approach, our expertise will gain in recognition,” said Michel Lucas, President of Crédit Mutuel-CIC Group.
"Together with Monetico International, we will be able to better support our respective merchants worldwide. For Desjardins, this new service offer reflects our commitment to putting their needs first and allows us to better serve our numerous cooperative and mutualist partners. We’re also able to suggest other innovative products that are user-friendly and adapted to their needs,” said Monique F. Leroux, Chair of the Board, President and CEO of Desjardins Group.