back Back

Nexi and Compass partner on in-store BNPL

By Gloria Methri

November 17, 2023

  • BNPL
  • Buy Now Pay Later
  • Compass
Share

Nexi, Compass, BNPL, PayTech, Europe, Italy, Mediobanca GroupEuropean PayTech Nexi and Compass, the consumer credit company part of Mediobanca Group, have entered a strategic partnership in the Buy Now Pay Later (BNPL) business.

Thanks to the agreement, Compass’ BNPL digital solution PagoLight will be available on Nexi SmartPOS. This will allow Nexi’s partner banks to provide retailers with an innovative solution for deferred payment directly integrated into the payment terminal. To date, several banks have joined the initiative, and more will join in the coming weeks.

The partnership between the companies allows Nexi to provide its partner banks with a product that will enable them to take full advantage of the business opportunities offered by Buy Now Pay Later.

“The agreement we signed with Compass is in harmony with our European PayTech positioning, which is focused on bringing our partners and merchants innovative solutions for business development,” said Filippo Signoretti, Merchant Solutions Director of Nexi Italy. “In particular, this partnership allows us to provide merchants with a Buy Now Pay Later service which can be used by their customers in physical shops through Nexi SmartPOS in a simple, immediate, and secure way, thus increasing sales opportunities.”

The agreement represents an opportunity for Compass to expand the distribution of PagoLight in physical shops. PagoLight is designed to enable merchants to increase both the number of sales and the value of the average purchase, relieving them of the credit risk, which is entirely carried by Compass. Launched in 2021, PagoLight is now active in Italy in more than 13,000 shops. The network continues to grow, with approximately 1,000 new activations per month.

“Thanks to this strategic agreement we are strengthening our presence in the BNPL market, particularly in the physical channel where, through Nexi, we will be able to bring our innovative deferment solutions to merchants and final customers throughout Italy,” said Francesco Caso, General Manager of Compass.

Previous Article

November 17, 2023

PayMate expands footprint across APAC to offer B2B payments solutions

Read More
Next Article

November 17, 2023

Standard Chartered-backed Zodia Markets partners with Triple-A

Read More






IBSi Daily News Analysis

Data privacy

July 16, 2024

BNPL

Rise in sophisticated attacks, state-level threats, and increased ransom DDoS Incidents

Read More

IBSi FinTech Journal

  • Most trusted FinTech journal since 1991
  • Digital monthly issue
  • 60+ pages of research, analysis, interviews, opinions, and rankings
  • Global coverage
Subscribe Now

Other Related News

Today

Ajman Transport Authority & BPC digitize payments for UAE commuters

Read More

Today

JTL-Software and Mollie partner on e-commerce payments

Read More

Today

Slope raises $65m in equity and debt funding from J.P. Morgan & others

Read More

Related Reports

Sales League Table Report 2024
Know More
Global Digital Banking Vendor & Landscape Report Q2 2024
Know More
NextGen WealthTech: The Trends To Shape The Future Q4 2023
Know More
IBSi Spectrum Report: Supply Chain Finance Platforms Q4 2023
Know More
Treasury & Capital Markets Systems Report Q1 2024
Know More

IBSi Sales League Table

The industry acknowledged barometer of global banking technology vendor performance!
Get your copy now!
close-link
Get your copy now! IBSi Sales League Table 2024