1.1.3 Unique expertise and positioning
Backed by 60 years of expertise, Edenred is positioned at the crossroads of four complementary skills:
- proficiency in digital payment technologies (Fin Tech);
- the ability to offer solutions to filter and control financial flows in accordance with local regulations or with the corporate client’s needs (public or private Reg Tech);
- the ability to affiliate networks and carry out the necessary financial intermediation (Financial Intermediation);
- the use of transaction data to develop new services (Data Intermediation).
In particular, this expertise is being supported by the digital capabilities of its issuance, authorization and reimbursement technology platform for payments.
In this way, Edenred has integrated payment expertise into its vast ecosystem, which connects over 50 million employee users and more than 2 million partner merchants via close to 900,000 corporate clients, with an unrivaled positioning in its three core markets.
1.1.4 A global player dedicated to the world of work
In 60 years, Edenred has built a solid operating presence in 46 countries on five continents. In most of them, the Group pioneered the Employee Benefits market, by initiating the passage of enabling legislation, and now generally holds market leadership. Drawing on its expertise in the management of payment flows in the working world, Edenred has also expanded since the 1990s in the Fleet & Mobility Solutions business, where it is currently market leader in Latin America and the second-largest issuer of multi-brand pan-European solutions. More recently, starting in 2016, Edenred leveraged the expertise of its digital technology platform to launch a Corporate Payment Services offering, which was broadened in 2019 with the acquisition of Corporate Spending International (CSI), a recognized player in the promising Corporate Payment market in the United States.
Main host countries
In France, solutions are offered in several categories:
- Employee Benefits (76% of local operating revenue in 2021): Ticket Restaurant, Kadéos, Ticket CESU;
- Fleet & Mobility Solutions (10% of local operating revenue in 2021): Ticket Clean Way, Ticket Fleet Pro, La Compagnie des Cartes Carburant;
- Complementary Solutions (14% of local operating revenue in 2021): Corporate Payment Services, Kadéos, Ticket CESU, Ticket Service.
In 2021, operating revenue totaled €286 million for the year.
In Brazil, Edenred offers a large, diversified range of solutions:
- Employee Benefits (49% of local operating revenue in 2021): Ticket Restaurante, Ticket Alimentação, Ticket Transporte, Ticket Cultura;
- Fleet & Mobility Solutions (47% of local operating revenue in 2021): Ticket Log, Repom;
- Complementary Solutions (4% of local operating revenue in 2021): Accentiv’Mimetica.
In 2021, operating revenue totaled €307 million for the year.
In each host market, Edenred has several competitors that vary between its business lines and may be local, regional or global.
In the Employee Benefits market, Edenred competes in most of its host countries with global players Sodexo and Groupe Up, as well as with regional and local providers such as Alelo in Brazil, Natixis Intertitres and Swile in France, and ePassi in Finland.
In the Fleet & Mobility Solutions market, Edenred’s competitors are FleetCor and WEX, two North American companies with operations worldwide, as well as large regional players such as DKV, Eurowag and Radius in Europe, and numerous local operators.
In Complementary Solutions, the Incentive & Rewards market is extremely competitive in all countries, and the fast-growing Corporate Payment Services market is characterized by a multitude of local and regional players, such as Avidxchange and BottomLine in the United States, competing for business alongside multinationals like FleetCor and WEX.
In addition, Edenred actively tracks strategic developments in adjacent markets and the start-up ecosystem, notably thanks to the expertise of its in-house venture capital fund Edenred Capital Partners and to its partnership with venture capital firm Partech International.