Fintecture, a French regulated payment institution specializing in credit transfers, announces that it has been selected by the Direction Générale des Finances Publiques (DGFiP) to implement the new remote payment by payment initiation (or "simplified credit transfer") module integrated into PayFiP.
Not only does this result consolidate the adoption of credit transfer payments in France, and demonstrate Fintecture's ability to fully meet the DGFIP's stringent technical and regulatory requirements, it also enables France and Europe to make concrete progress towards the long-awaited sovereignty of payments.
A strong signal for the adoption of payment initiation and European sovereignty
With nearly 72,000 depositors with the French Treasury (local authorities, public establishments, régies...) and almost 26.5 million transactions, the DGFiP will gradually extend the use of simplified credit transfers to all depositors in its online payment transactions. This service will enable all citizens and companies to settle their public debts easily, directly from their bank account, in a fluid and secure environment.
By choosing a French payment initiation solution over the American duopoly, the French government is sending out a strong signal: it's no longer just a question of rhetoric about sovereignty or support for European technologies, but of concrete action.
The simplified credit transfer, a payment initiation solution, responds to these challenges:
- offer a cost-effective, sovereign alternative to credit card payments,
- replace the classic credit transfer with a flow enriched with a unique claim reference, guaranteeing automatic reconciliation,
- replace cheques by offering a fluid, secure payment experience accessible to all.
This strategic choice by the DGFiP will accelerate the adoption of the simplified credit transfer by citizens and businesses, making this payment method a permanent fixture in French people's daily lives.
"This tender confirms Fintecture's technological lead in payment initiation. But above all, it illustrates the decisive role of public procurement: by choosing a European solution and integrating it on a large scale into its payment processes, the French government is creating a ripple effect. This choice will accelerate the adoption of the simplified credit transfer by the French, making this payment method a permanent part of their daily routine", explains Faysal Oudmine, co-founder of Fintecture.
This victory is that of an entire ecosystem, and is part of a broader vision supported by Fintecture: to encourage the emergence of a European payments market based on usage, innovation and competition. Rather than centralizing under a single brand, Europe must encourage an ecosystem of interoperable solutions, adapted to the diversity of consumer and professional uses.
About Fintecture
Fintecture is a French payment institution, regulated by the ACPR, which is reinventing payment by credit transfer. By eliminating the constraints associated with traditional payment methods, it enables companies to secure their sales, even the most complex B2B transactions, and thus generate additional sales.
Fintecture has deployed a secure, proprietary payment infrastructure, taking advantage of open banking and AI, and pays particular attention to the fight against fraud.
Launched in 2020, Fintecture led a €26M Series A in 2021, for a total of €32 million raised, and was awarded the Fintech of the Year prize by AGEFI in 2023. Over a million payers have already used its solutions, through customers such as Auchan Retail, Edenred, Saint-Gobain Distribution, Leroy Merlin, Boulanger, La Redoute, Maisons du Monde, Aramis Auto...
Press contact - Maëva Pépin - press@fintecture.com
