BANCOMAT acquires majority stake in FinTech FlowPay

By Gloria Methri

BANCOMAT SpA, Italy’s payment services provider, is set to acquire a stake in FlowPay, a FinTech company specialising in open banking and digital payment solutions.

This marks BANCOMAT’s first acquisition and aligns with its Industrial Plan to strengthen its presence in open banking and expand its portfolio of innovative digital payment technologies. Pending regulatory approvals, the acquisition is expected to close by mid-2025. Post-acquisition, BANCOMAT and FlowPay plan to integrate their technologies to offer new value-added services to consumers and merchants, addressing evolving market demands.

“The acquisition of FlowPay marks an important step in our digital growth strategy, allowing us to both accelerate technological development and enter open banking. With this operation, we are starting the creation of new account-to-account payment services and further strengthening our ability to innovate and offer new solutions to businesses and consumers”, said Fabrizio Burlando, CEO of BANCOMAT. “This acquisition is the first of a series of actions that we are implementing to accelerate our presence in the innovative digital payments market, offering increasingly advanced, secure and integrated solutions”.

“The integration with BANCOMAT marks a decisive step for FlowPay,” said Federico Masi, CEO & Co-founder of FlowPay. “An opportunity to strengthen our role as innovators in the market, accelerating the development of new solutions in digital collection and payment systems for our partners.”

BANCOMAT SpA’s acquisition of FlowPay is a strategic move to accelerate its growth and innovation in digital payments. This initiative is part of BANCOMAT’s broader efforts, supported by FSI and major Italian banks, to enhance its services and market presence.

Recent developments include governance simplification, leadership enhancements, brand revitalisation, advanced payment services, technological infrastructure upgrades, strengthened European interoperability, and strategic collaborations across various sectors. These efforts aim to solidify BANCOMAT’s position as a provider of innovative digital payment solutions in Italy.