Mission and Vision

STET is a critical operator for our clients, the banks and the banking communities we serve every day.

Stet is responsible for more than 24 billion transactions a year, representing an average of 25 billion Euros per day. This is a great responsibility that we take for banks, central banks and finally end-users.

As a Systemically Important Payment System (SIPS), we commit to respecting the highest level of security, rigour, and transparency.

Doing more for banks today, and even more tomorrow

We assume our role with a full dedication, which embraces day-to-day’s business, and a long-term vision to anticipate tomorrow’s market demand.

As the European payments business is undergoing dramatic changes, benefiting from the industry standardisation and the technology revolution, we work on a continuous process to design new functional and technical solutions, with an architecture capable of responding to tomorrow’s challenges.

Since its creation, STET’s vision is that European harmonisation will not preclude the market diversity. That’s why we develop flexible and sustainable architectures, designed to host the various needs of our clients with user-friendly multi-channel services.

Innovating to anticipate the market needs

What’s happening on the market? What will happen tomorrow and the day after? These questions are our major concern at STET.

In the fast-changing technology landscape, we pay great attention to the market new technical developments and business trends. Being a technology service provider, it means that we help our clients to move into the future and bring them new services to improve their time-to-market.

Enhanced competition involved by the market consolidation makes the importance of being the first on the market a critical point for our clients.

At STET we believe our first mission is to serve our clients todays and to anticipate their tomorrow’s expectations.

We pay great attention to the market evolution, in order to support and accompany our clients’ needs.


STET brings next generation solutions with open-access and transparent user policies.

Our approach of governance empowers each client’s community to maintain full control over its CSM. As a consequence, STET clearly separates management of a CSM from the corporation running scheme-agnostic processing capabilities. Each has its distinct governance organisation, ensuring balanced priorities:

  • The Board is responsible for running the corporation. These responsibilities include overseeing the corporation's strategy, organisation, investments, and future developments,
  • For our Clearing services, a governing body is designed for each community. This body has full control over payment instruments and rules for processing or routing them. This governing body's very organisation and governance are decided by each community. Individual banks are also considered as our flexible clearing services offer allows clients to opt in our additional services, such as Instant Payment.
  • For our card services, we designed a flexible network and services able to suit market demands.

A reliable partner of the European payment market

Our disruptive approach of governance that involves all our stakeholders, as well as our open-access policy makes possible for all European banks to benefit from our exceptional track record, our system and network robustness, our 24/7 processing capacity and our cost efficiency.

Thanks to our clients support, we believe we is in a good position to consolidate the European payment market, both on a technical and a business viewpoint.

Having a consistent 360° service offering including a clearing system able to handle the whole range of payment instruments (domestic and SEPA) as well as a routing and authorization network means that we can support all payment issues.

Reachability is also a key issue for STET, that’s why we are working on partnerships to allow our clients to reach any counterpart within the SEPA area.

Finally, we hope the payment market will leverage our price competiveness, which draws on optimized business process and economies of scale generated by our large transaction volumes.

Knowing more about STET ( • )

Board Members

STET S.A. is owned by six major banks - BNP Paribas, BPCE, Crédit Agricole, Banque Fédérative du Crédit Mutuel, La Banque Postale and Société Générale – joined by CB Investissements in 2016.

STET’s Board gathers 12 representatives of the Payment Industry:

Click to view more information


Philippe Lepoutre


Board Members:

Fabrice Denèle


Régis Folbaum


Philippe Laulanie


Marc Rainteau


Valérie Teissèdre


Michel Vial


Independent Administrators:

Bernard Gouraud


Philippe Menier



Karel Andries


Executive Officers:

Pierre Juhen


Jean-Marie Vallée


Philippe Lepoutre

Deputy Head of Global Transaction & Payment Services - Société Générale

Graduate of Ecole des Hautes Etudes Commerciales (HEC Paris), Philippe Lepoutre began his Career in 1984 in the Suez Group holding company.

He then developed his professional activities in the financial sector as Senior Consultant for Accenture, before joining Valeo Vision, division of the Valeo automotive group, as IT Manager.

In 1995, he was hired by CGA, factoring subsidiary of Société Générale, as IT Manager. He was appointed CEO of CGA in 2007.Since December 2014, he is Deputy Head of GTPS (Global Transaction and Payment Services) for Société Générale.

Fabrice Denèle

Fabrice Denèle is the Senior Vice President, Partnerships & Interbank Relationships in Natixis Payment Solutions.

Previously he was Head of Cards and Payments strategy at BPCE, where he was responsible for cards and payments strategy in BPCE.

Mr. Denèle also serves as a Director of S.W.I.F.T. Scrl, Visa Europe Limited, and EUFISERV Payments s.c.r.l. Mr. Denèle has over fifteen years of experience in treasury and payments.

He chairs the European Savings Banks Group Payments Committee.

He is a Member of the European Payments Council and several bodies related to payments.

Régis Folbaum

Head of Payments - La Banque Postale

Régis Folbaum is a graduate from ESSEC Business School and holds an MBA from INSEAD.

Régis Folbaum is the Head of Payment and a member of the Management Committee of La Banque Postale.

From 2012 to 2015, he was the General Manager of MasterCard France. Prior to taking this role, he held several positions in the Financial Institutions Group of global management consulting firm McKinsey & Co. and in the Mergers & Acquisitions teams of AGF–Allianz Group, and Goldman Sachs.

As part of his role, Régis Folbaum is also Vice-President of GIE Carte Bancaire, Vice-President of Visa Europe France, a Board member of Transactis and a Member of Banque de France Conseil National des Paiements Scripturaux.

Philippe Laulanie

Chief Executive Officer - CB Card Scheme

Philippe Laulanie is graduate from the EM Lyon Business School and holds an MBA as well as a degree from the IHEDN (Institute of Advanced Studies in National Defence).

Before being appointed to CB as Chief Executive Officer, he has spent most of his career working for BNP Paribas whom he joined in 1989 as Head of Marketing before rapidly moving on to other positions, both in France and abroad.

From General Inspection to Management Control, he has gained extensive knowledge of banking activities.

In 1997, he was entrusted with the task of devising a new distribution model for retail banking, via a multi-channel platform implemented across more than 15 countries.

In 2014, Philippe Laulanie was appointed Chairman of RMW (Retail Mobile Network), a subsidiary of BNP Paribas. This platform, co-designed with major retailers, aims to address the strategic challenges raised by the digitization of business, the simplification of the customer experience and the creation of services.

Philippe Laulanie is also Vice-Chairman of the INRC (National Institute for Customer Relationship) and a member of the Board of EFMA (European Financial Management Association).

Marc Rainteau

Head of Payment and Banking Systems of CM Group

After a PhD-sponsored program in the Economics Department of an Energy Utility Company, Marc RAINTEAU began his career at IBM as Integration Systems project Manager in the Banking Sector. In 1989 he joined TELERATE Dow-Jones as senior project manager in the Dealing rooms and Networks Direction in charge of European banks area.

In 1992 he was hired by CIC as deputy head of Organization Division, then head of the Cards Operations Services from 1998 to 2001. In 2002 he was appointed head of Payment Systems Department of Credit Mutuel – CIC and is also manager of the Banking Systems and Payments Services of the Confederation Nationale du Crédit Mutuel since 2010.

Marc RAINTEAU holds an MBA from EDHEC Business School.

Valérie Teissèdre

Valérie Teissèdre est Directrice générale adjointe de Crédit Agricole Payment Services depuis octobre 2016.

Valérie Teissèdre commence sa carrière en 1986 dans le Système d’Information en tant qu’analyste au sein de EDF. Elle intègre le Crédit Lyonnais en 1987 et occupe divers postes de direction de grands projets et de management élargi au sein de la Direction Informatique. Elle y est nommée Responsable du pilotage en novembre 2006, puis Directrice des études en charge des produits et services bancaires en juin 2008. En octobre 2012, elle est nommée Directrice de la maitrise d’ouvrage et des processus de LCL, et en mai 2014, en complément, Directrice informatique. En juillet 2014, elle devient membre du Comité de Direction Générale de LCL. Elle rejoint Crédit Agricole Payment Services en octobre 2016 où elle occupe la fonction de Directrice générale adjointe, successivement en charge des opérations et du pilotage puis du fonctionnement depuis mai 2018.

Valérie Teissèdre est diplômée du Conservatoire National des Arts et Métiers de Paris et titulaire d’un Diplôme d’Enseignement Supérieur Technique - spécialité informatique.

Michel Vial

Head of Strategy and Development of BNP Paribas Group Head of Principal Investments

Graduate from Ecole Polytechnique, Michel Vial began his carrer at Arthur Andersen Consulting in 1982. He joined the BNP Group in 1985 where he had worked initially in the Department of Mergers and Acquisitions / Capital Investments, specializing in the technology sector.

In 2008 Michel Vial became the Head of Retail Development, reporting to Jean-Laurent Bonnafé : in charge of BNPP Fortis merger and other projects in retail banking networks and financial services.

Since 2016 Michel Vial is a Board Member of the First Hawaiian Bank (USA), of the First Hawaiian Inc (USA) and of the 441 Trust Company Ltd (UK).

Bernard Gouraud

Bernard Gouraud started his career in 1974 at Banque Populaire Bretagne Atlantique as a Project Manager.

He was rapidly promoted within the Banque Populaire group, first as the Head of Innovation & Advanced Technologies, then as the Deputy Director of Research & Development.

After having served as the Director of Marketing & Technologies of 2 subsidiaries of the group, Bernard became successively IT Director in 2002, then Director of Technologies of the group in 2003. As such, he was responsible for IT projects, information security, business continuity as well as interbank relations and innovation regarding payment instruments.

In 2009, Bernard Gouraud is appointed as the IT & Technologies Director of BPCE (the new banking group resulting from merger of Banque Populaire and Caisse d'Epargne).

Beside these responsibilities, Bernard Gouraud has been a member of the EPC Plenary, and a board member of Allbiant It, Natixis paiement, and CFONB.

With over 30 years' experience in IT optimization, Innovation, and Payment Services, Bernard Gouraud is an Independent Advisor since 2013.

Philippe Menier

A graduate of the Solvay Business School, Philippe Menier began his career in 1980 at Diners Club, where he notably held the position of CFO.

In 1988 he joined Citibank Belgium as CFO, at first, then became in 1992 Cards Business Manager for Benelux, and in 1996, Business Manager Cards for the US.

In 1998 he joined the Visa Europe, first as Marketing Director, then Commercial Director in 1999, and finally COO in 2002. In 2007, he was appointed Deputy CEO of Visa Europe.

Since April 2014, he put his expertise in innovative banking projects serving many companies by creating his consulting firm.

He also serves on the board of Antelop, Yello, Neowave.

Karel Andries

President of the CEC-UCV Belgium

Partner Management & Strategy for Payments at Belfius.

Karel Andries started his career in 1976 at Paribas Bank Belgium. He developed his professional activities in the financial business with a longtime experience in the Payments department.

Starting in the back-office, with a short intermezzo in the commercial area, he was deeply involved in the development of the Belgian RTGS, the conversion into EURO, the Y2K, the implementation of SEPA and the consolidation of the payment business with the merge of the different banks he was working for.

Karel has from the start of his career been a member of various national and international interbank working groups and bodies with particular attention to all initiatives in the payments industry.

Being closely associated with the successfully migration of the Belgian Banking Community (BBC) payments activity towards STET, he has been elected by the BBC as president of the CEC in 2013.

Karel Andries has been appointed as ‘Censor’ to the Board as from June 2019

Pierre Juhen

Deputy CEO - STET

A graduate of the Polytechnique and Sup-Télécom engineering schools, he started his career at France Telecom R&D, then occupied senior management positions first involving entreprise services in the Information Systems Division, where he headed a large internal enginnering service.

He directed the commissioning and deployment of the E-rsb service as IT and Networks Director at GIE CB, then conducted the project to subsidiarize activity.

In June 2003, he became CEO of SER2S, the company created to operate the E-rsb services.

In January 2016, he was appointed as STET SA. Deputy CEO.

Jean-Marie Vallée

Chief Executive Officer - STET

Jean-Marie Vallée is a graduate of the Institut d'Etudes Politiques de Paris and also has a law degree and is a Certified Accountant. Jean-Marie Vallée has held a number of positions within the BPCE Group, especially in the Inspection and the Industrial Participation departments. In 2001, he became CEO of Natixis Payment Solutions.

He was also the Chairman of Visa France board from 2010 to 2014.

Jean-Marie Vallée has been appointed as the CEO of STET in October 2014.


Since STET's funding, our vision is that the payments market will retain national differences for a number of years.
The reality of the European clearing market shows that it is multi-currency, multi-payment instruments - SEPA and non-SEPA including Cards - and consumer preference for these varies by community.
That's why we always dedicate to serve the diverse needs of the market.

2004-2015: STET develops and operates the CORE system

In 2004, with the emergence of the SEPA, STET was created by a group of major French banks with a particular goal in mind: to undertake the development of a new platform that would meet the transformation and challenges the payments industry was set to undergo.

Built on years of experience and expertise, the CORE platform was developed with the ambition to create an innovative payment platform for the future European market. This new platform aimed to deliver efficiency and security to a large-volume market, and to provide the requisite architectural flexibility to handle the diversity that would exist for many years.

CORE was successfully launched in January 2008 with the first SEPA SCT payment and, throughout the year, hosted the migration of the full range of payment instruments in the French market. This was in addition a national consolidation of the clearing by concentrating all payment instruments in a single clearing system.

In 2012, our technical consolidation approach became a reality when the Belgian banking community entrusted STET with the processing, clearing and settlement of SEPA and non-SEPA payment instruments in the Belgian market.

The implementation of the new Belgian CSM ended in March 2013.

2016: STET deepens its expertise in Cards by merging with SER2S

On 18, December, 2015, Stet merged with SER2S, becoming STET SA.

Since January 2016, STET operates the secure E-rsb transport network for cash withdrawal and payment authorisation messages.

With the addition of this network, STET activities now include a strong expertise in cards, as well as the study, design, building and operation of networks and secure interchange and data processing systems, in the context of electronic payment systems.

This operation reinforces STET's strategy to deliver the payment market with state-of-the -art solutions in terms of Real time processing, security, and 24/7 availability.

Key figures

Transaction volumes

In 2018, STET processed 24.35 billion transactions.

billion transactions

for the French and Belgium Communities

Besides of that, more than

billion transactions

were routed on our routing & authorisation service

STET's CORE platform is one of the leading ACH in Europe with 51.9% market share of euro transactions multilaterally cleared in Clearing Systems.

The CORE system processes the whole range of payment
instruments on a large scale including all card transactions.

Card & ATM

billion transactions

7.24 billion
card transactions
routed on our network

In 2018, more than 7,24 billion transactions were routed through
our routing and authorisation service.

Our secure network for cash withdrawal and payment
authorisation messages is in France the reference network
for all card types, including CB, Diners Club International,
JCB, Mastercard, Paylib, Visa.

Performance of the CORE system.

Benchmarked for
300 000 000 transactions/day
Highest peak day
155 098 899 transactions
Peak hour
94 230 268 transactions

The CORE system processes the whole range of payment
instruments on a large scale including all card transactions.

Performance of our Card routing and autorisation service

19 million transactions per day
on average with peaks up to 25.5 million

Processing capacity
exceeds 2,000 transactions per second

Peak processing rate is
800 transactions per second

Main caracteristics of our card routing and authorisation service

  • More than 50% of CB card transactions occurred in France involve an authorisation request and transit via the e-rsb network
  • 15% of the activity (incoming + outgoing) is international
  • Annual infrastructure availability over 99.999%
  • Non completed transaction rate due to e-rsb : under 1 in 1 million

Contribution to the industry

As we consider our ongoing dialogue with all the payment industry stake-holders is of great importance, STET is an active contributor to the European discussions and efforts to provide the market with harmonised payment solutions.

European Commitment

STET plays a significant part in the following forums, and task-forces:


  • Card Stakeholders Group Board (CSG),
  • Project Management Forum,
  • Scheme Technical Forum (ESTF),
  • Instant Payments Task Force,
  • SCTinst Payments Risk Management Experts.


  • ACH Task Force on Instant Payments

European Cards Stakeholders Group

  • STET is board member of the ECSG and participates in the Acquirer 2 Issuer Task Foprce (A2I TF).


  • French Users Board of Directors
  • Technical Experts Group

EBA Association

  • STET is an asssociate Member and participates in EBA Instant Payments Forum


  • Chairman: José Beltran, STET Business Development Director

Berlin Group

  • STET has a permanent Representative

Payments System Regulator (PSR) UK

  • PSR Strategy Forum


As a founding member of the European Automated Clearing House Association (EACHA), STET is actively involved in the:

  • EACHA Innovation group
  • Technical task Force
  • and EACHA Payments Forum.

Local Commitment


  • Payment instruments Working Groups I & II
  • Standards Coordination Working Group
  • Certification and electronic signature Working Group
  • Regulation & Compliance Working Group

Banque de France

  • Crisis Committee
  • Stress tests

Fédération Bancaire Française

  • Payment Instruments Committee