BNP Paribas to acquire FLOA from Casino Group and Credit Mutuel Alliance Federale for €258m.

BNP Paribas agreed to acquire FLOA, a provider of web and mobile payment solutions, from Casino Group, a French mass-market retail group, and Credit Mutuel Alliance Federale, a provider of banking services, for €258m. “Take-up of digital payment solutions is massive and is gaining further momentum with the sharp growth in e-commerce. In this environment, with support from Casino and Crédit Mutuel Alliance Fédérale, FLOA has become France's leading provider of innovative payment solutions, offering particularly innovative, market-leading solutions and customer experiences. With BNP Paribas, FLOA will launch a second phase of its development in France and Europe, especially with vendors and e-tailers. The planned transaction is perfectly aligned with our payments development strategy in Europe,” Thierry Laborde, BNP Paribas Group Chief Operating Officer.