In a move to change the payment services landscape in France, Crédit Agricole and Worldline have joined forces to launch CAWL. This brand promises to deliver tailored solutions to merchants across various sectors.

Crédit Agricole and Worldline Introduce CAWL

CAWL represents the synergy between Worldline's global payments services technology and Crédit Agricole Group's strong banking market presence and distribution network.

"CAWL has the ambition to be a major player in payments for all merchants in France, with an offering that combines service, proximity, and high technology, leveraging the strengths of Crédit Agricole and Worldline," Meriem Echcherfi, the CEO of CAWL, emphasized the company's ambition to become a major player in the French payment services market.

The move came less than three months after France’s Crédit Agricole acquired a 7% stake in Worldline to strengthen the joint venture partnership between the two entities.

CAWL aims to cater to merchants' diverse needs, regardless of their size, industry, or sales channels. Large merchants can expect omnichannel solutions from dedicated commercial teams with industry-specific expertise.

#Worldline et @Credit_Agricole dévoilent aujourd’hui #CAWL, la nouvelle marque de #paiement pour les commerçants en France. Son offre s’appuie sur les forces du Crédit Agricole et de Worldline, alliant service, proximité, haute technologie et innovation : https://t.co/LRscrJCGqL pic.twitter.com/KMTHbk0UkA

— Worldline France (@WorldlineFrance) April 8, 2024

Meanwhile, professionals and SMEs will benefit from all-in-one offerings tailored to their industry verticals, distributed through Crédit Agricole Group banks and digital channels starting in 2025.

Commerzbank is another banking giant that recently collaborated with Worldline. As Finance Magnates reported in January, Commerzbank extended its partnership with the payments company, unveiling real-time euro transfers.

"We also aim to be a leader in innovation by creating integrated offerings that significantly increase the added value for merchants and, by extension, for their own customers," added Echcherfi.

The brand's offerings will incorporate Worldline's advanced technologies and capabilities and Crédit Agricole Group's deep understanding of the French market. Merchants can look forward to a seamless e-commerce platform, state-of-the-art SmartPOS solutions, and access to multi-currency, multi-country, and multi-payment network services.

Worldline’s 2023 Net Loss

Worldline recently disclosed its financial achievements for the year 2023, revealing a strategic initiative to refine its operational framework. The company experienced 6% organic growth in revenue, reaching €4.61 billion, marking a significant milestone in its financial trajectory.

Despite these gains, the company faced challenges, as indicated by a net loss that led to a pessimistic response from the stock market, with its shares plunging over 11% on the French stock exchange. In light of these developments, Worldline has articulated a medium-term vision focused on securing mid to high single-digit organic growth and enhancing profitability starting in 2024. A critical component of this strategy is improving its free cash flow conversion rate to nearly 50%.

"After a strong first semester and despite a positive commercial momentum in 2023, Worldline’s second half was materially impacted by a gradual overall macroeconomic and consumption slowdown in our core geographies," said Gilles Grapinet, the CEO of Worldline.

Worldline's expansion of its international presence is central to achieving these goals, exemplified by the recent acquisition of a new license in Singapore.