Worldline S.A. (ENXTPA:WLN) has picked banks to work on a potential sale of its payments terminal operations following the €7.8 Billion ($9.2 Billion) takeover of Ingenico Group - GCS (ENXTPA:ING) (Ingenico Group SA), people familiar with the matter said. The French payments provider has selected UBS Group AG and BNP Paribas SA to advise on strategic options for the business, according to the people. It plans to seek a valuation of about €3 Billion in any sale, the people said, asking not to be identified because the information is private.

Worldline confirmed on October 29, 2020 it's now launching a strategic review of its payment terminal business, as it seeks to move from providing bundled hardware and services to a “software-as-a-service” business model. It expects to complete the review in 2021, according to the press release posted on its website. Representatives for BNP and UBS declined to comment.

The business under review includes Ingenico Group - GCS (ENXTPA:ING)'s Banks & Acquirers division, as well as some smaller Worldline operations, the people said. The unit is likely to attract bids from rival payments firms and private equity funds, the people said. Worldline could also sell only part of the business or form a joint venture with a partner, the people said.

No final decisions have been made, and Worldline could still opt to keep the unit, the people said.