Transalpines have their own PayPal. The new online payment system, which also works on smartphones and tablets, is called PayLib and will soon allow you to buy train tickets from the SNCF. The creators are quite well-known names: Bnp Paribas, Société Générale and La Banque Postale.
An unprecedented alliance, given that the three competitors are not in the habit of collaborating. Yet the urgency of the situation justifies the sudden armistice. It is a matter of joining forces in the fight against PayPal, the main online payment system in the world and also the undisputed leader in France, with 7 million current accounts. And it is also an adaptation to technological challenges, with the new generations of electronic wallets arriving in Europe at the end of 2013, with more than convincing sponsors such as Google, Visa and Mastercard.
PayLib focuses on simplicity and security. It seems that users, instead of having to type in the 16 digits of the card, will only need an identification name and a password to pay.
There are also advantages for those who sell: PayLib will take a lower commission than that requested by PayPal, 3% on each transaction.
The promoters of the initiative hope to involve other banking groups. But the 11 months of preparation were not enough to convince other mammoths in the sector, such as Crédit agricole, BPCE and Crédit mutuel. The goal is to create a standard that everyone will be forced to meet.
