Enel X Financial Services launches new online banking account

By Megha Bhattacharya

Enel X announced the launch of Enel X Pay, the online banking account from Enel X Financial Services, in partnership with Mastercard. The new online banking account enables users to make secure payments and transfers in real-time directly via a smartphone app, to have a digital or physical card and monitor the transactions and spending of the whole family.

“Through Enel X Pay, we are expanding our platform of offers and products to financial services; a digital tool to easily manage financial transactions by relying on an innovative and trusted partner like Enel X,” said Francesco Venturini, Enel X CEO. “The disintermediation from traditional financial services give us the option of entering a highly competitive sector, bringing our ability to innovate and develop new solutions, from advisory and financial management services to insurance services.”

Enel X Pay is a digital account that involves a card and an Italian IBAN, which allows users to perform multiple types of transactions: from the payment of bills, to SEPA transfers, from the peer-to-peer transfer of money with no additional costs, to donations aimed at solidarity initiatives to third sector associations. It allows users to manage their banking account directly from the app bundled with a digital and physical card.

Enel X Pay is available on the Google Play Store (Android) and, will be introduced soon on the Apple App Store.

“With the launch of Enel X Pay we are bolstering our position in the fintech sector, contributing to the dissemination of digital payments and the development of financial services integrated with Enel’s ecosystem,” said Giulio Carone, CEO of Enel X Financial Services. “The business model we are looking at is that of a Big Tech firm, which makes available to customers its ability to innovate, counting on strategic partnerships with leading technology players, in order to offer high value-added solutions.”