Without it, many neobanks would not have been able to emerge so quickly. Without it, Societe Generale would not have invested so much in fintech. Treezor, the banking-as-service startup, celebrated its 5th anniversary last year, but a much bigger milestone has just arrived. In March, it obtained all the approvals of the French payment license, awarded by the regulators. A first that no other French fintech can claim.
The ACPR (the Prudential and Regulatory Supervisory Authority) grants its authorization to operate as a payment institution at several levels. There is not one and the same banking license for all. And the regulator divides it into several approvals, numbered from 1 to 8. Among them, we find the right to issue cards, transfer funds, initiate a payment, or even deposit cash, for example.
Until then, no fintech in France had all of these approvals to operate independently in a payment activity as practiced by all neobanks on the market. In Europe, having an authorization in a member country makes it possible to practice in all the other member countries by simple request. This is why many actors did not hesitate to seek partners in Germany or Lithuania while practicing in France. Only the customer's IBAN changes.
Treezor, leading payment provider in France
Treezor, which is already installed in 25 markets and has more than 100 customers, will continue to see its business grow. With all the approvals of the French payment license, it offers a versatile offer for other fintechs.
Many startups, to go faster in their development, prefer to rely on their partnership with Treezor to somehow rent its payment license. It is not only a technical partner who offers the tools and the architecture so that a company can provide a payment solution to its customers. Recently, the neobank Finom approached Treezor to set up in France.
Acquired in 2019 by Societe Generale, Treezor largely manages fintechs like Shine (neobank pro) but also unicorns like Swile (modernized restaurant voucher) and Qonto (neobank pro). The very famous peer-to-peer payment application Lydia has also started with its white label service.
By recovering approvals 1, 4, 6, 7 and 8, Treezor now monopolizes approvals to offer deferred payment, the aggregation of different external accounts, the initiation of transfers (standard and instant) and the deposit of species.