Treezor, the European firm focused on Banking-as-a-Service (BaaS) solutions, has obtained authorization from the ACPR in order to expand its activities and now “has all the payment service licenses (from 1 to 8).”
The new authorizations (i.e. 1, 4, 6, 7 and 8) mean Treezor may now provide:
- cash deposits with a network
- execution of payment transactions carried out with a payment card or a similar system
- associated with a credit facility
- execution of transfers associated with a credit facility
- fund transfers
- payment initiation service
- account information service
These new payment services “enrich the offer that Treezor has been providing since 2016, making the BaaS champion the first French Payment and Electronic Money Institution with all the payment services licenses.”
Supporting the emergence of “tomorrow’s payment leaders”
Last year, the firm celebrated its 5th year of activity “since obtaining its authorization from the ACPR as a Payment and Electronic Money Institution.”
Treezor’s figures indicate positive growth: “it now has more than 100 customers, has doubled its transaction volume to €25 billion, is recruiting +50% new employees per year, and opened 4 new offices in Europe (Germany, Benelux, Italy and Spain).”
Via new use-cases, the authorization extension “represents additional drivers of growth.” Treezor’s clients can now “integrate new features into their own offers: deferred payment, aggregation of various external accounts, initiation of transfers (standard and instant) or cash deposits.”
In regards to cash use, Treezor can now “offer invoice payments or cash purchases.” In addition, by relying on the large network of tobacco shops in France, Treezor will also be “able to simplify cash deposits and withdrawals for its clients’ customers, and thus compensate for the closure of bank branches, particularly in rural areas.”
The extension of the ACPR’s authorization is “a real advantage and will certainly allow Treezor to support the emergence of future European unicorns.”
Integrating all payment methods “into the process”
Treezor thus strengthens its position as a “One-Stop Shop” for companies “implementing a payment project and wanting to outsource technical and regulatory aspects to an expert.”
These new products have been “developed to be embedded seamlessly into the customer’s user experience.” For instance, Treezor can now “simplify the process of topping up their accounts or paying a bill.”
The update also mentioned that Treezor will “rely on its large number of active cards to offer high value-added services, such as split payments (Buy Now, Pay Later or BNPL).”
Eric Lassus, CEO and Co-founder of Treezor, stated:
“This authorization extension enables Treezor to strengthen its unique position in the payment industry and confirms our European ‘One-Stop Shop’ strategy for the most ambitious projects. We are proud to be the first French Electronic Money Institution to offer its customers a complete and unprecedented range of services. Having all the payment services authorizations regulated by the ACPR with the level of compliance and risk management requirements of Societe Generale group enables Treezor to have a solid and sustainable growth dynamic.”
Established in 2016 by two French entrepreneurs, Eric Lassus and Xavier Labouret, Treezor is a Fintech “regulated in 25 countries as a Payment and Electronic Money Institution and also a key member of international card networks.”
Acquired in 2019 by Societe Generale group, Treezor claims to be “the European leader in Banking as a Service with a presence in France, Germany, Benelux, Italy and the Iberian Peninsula.”
Its packaged embedded finance solution “enables companies to integrate white-label payments into their offer, without any constraints, by outsourcing all the technical aspects via API (from acquiring to issuing), the security aspects (KYC) and the regulatory aspects (Compliance, AML-CFT, etc.) to an international team of experts.”
Treezor is a “Unicorn farmer” that has “supported the emergence of many European payment unicorns.”