DUBLIN and PARIS, 20 September 2022 – Stripe, a financial infrastructure platform for businesses, announced today that it is expanding its payment offerings via CB, the leading card and mobile payment system in France, where 65% of household daily spending is paid for with CB.
Enhanced integration enables French and international companies that use Stripe to better meet the expectations of their CB-using customers in terms of payment convenience and security, while allowing retailers to reduce their costs and improve their conversion rates.
CB is now available to millions of Stripe retailers worldwide who want to tap into the French market. Amid the current economic slowdown, international companies are seeking to adapt and optimise their revenue. They can now operate seamlessly in the French market by accepting CB payments, increase their conversion rates by catering to the preferences of French shoppers, and thereby help ensure their long-term growth.
This new development now allows local and international retailers to take full advantage of the CB integration natively from their Stripe dashboard. MatchesFashion’s early adoption of CB has resulted in a double-digit increase in its conversion rates. In another industry, since this international fintech company began using Carte Bancaires, its authentication rates have risen from 89% to 94%, and card network fees have been reduced by one-third.
New features are also available starting today, allowing companies such as ManoMano and La Redoute to offer an improved payment experience for CB users. These new features include:
ManoMano is Europe’s leading online retailer specialising in DIY, home, and garden products. In France, the Stripe integration with CB has proven essential to our growth, with a major positive impact on our conversion rate and costs. When we talk about conversion, we’re talking first and foremost about customer experience. And this integration has allowed us, for example, to efficiently manage the new payment authentication processes for our customers.
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By making it easier for retailers to offer CB payments to their customers in France, we can improve their conversion rates and thereby help them generate more revenue — at a time when businesses need it most.
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We are extremely pleased that Stripe, a major global player in the payments industry, has chosen to offer CB acceptance to all of its retailer customers serving the French market. It demonstrates the efficiency and quality of service of the CB payment network, benefiting both retailers and consumers who use it every day. This decision also underscores the strong relationship that has developed between our companies.
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Stripe is a financial infrastructure platform for businesses. Millions of companies — from the world’s largest corporations to the most ambitious start-ups — use Stripe to accept payments, increase revenue, and generate new business opportunities. With dual headquarters in San Francisco and Dublin, the company aims to grow the internet’s GDP.
Press contact
Simon Lozach: +33 6 32 26 41 56 / simon.lozach@rumeurpublique.fr
Victor Esteves: +33 6 63 06 09 14 / victor.esteves@rumeurpublique.fr
Established in 1984 to implement a universal and interoperable card payment system as well as a cash withdrawal system at ATMs in France, the Cartes Bancaires CB consortium is the governing body of the CB card and mobile payment system.
CB is the leading payment system in France, with the following figures for 2021:
