back Back

Nexi and SIA agree to merge; create new European PayTech entity

By Megha Bhattacharya

October 05, 2020

  • Europe
  • Nexi
  • Sia
Share

siaItalian PayTech Nexi and SIA signed a memorandum of understanding (MoU) in a bid to integrate the two groups through the merger by incorporation of SIA into Nexi. The MoU was executed by the respective reference shareholders, CDPE3 and FSIA Investimenti S.r.l. (“FSIA”) as regards SIA, and Mercury UK HoldCo Limited (“Mercury”), company owned by Bain Capital, Advent International and Clessidra funds, as regards Nexi.

The CEO of Nexi, Mr Paolo Bertoluzzo, commented, “…The new PayTech company, through its independent role and having CDP as anchor investor, will continue on its growth path as large Italian public company contributing, to an even greater extent, together with its partner Banks, to further accelerate the digital payments penetration in Italy and to the digitalization and modernization of the Country in favour of citizens, enterprises and Public Administration. The combination of the best skills in technology and innovation of Nexi and SIA teams is a strength to even further develop more advanced solutions for all partner Banks and customers. I believe that Nexi and SIA people should be proud of this new leading player: a great opportunity for all”.

The companies stated that the entity resulting from the merger will remain listed on the MTA and will cover the value chain of digital payments across all market segments. It will also offer solutions ranging from digital payments acceptance services for small and large merchants, omnichannel and e-commerce solutions to issuing and management of all type of cards to mobile payments apps, from B2B digital payments solutions to open banking, from local public transportation solutions to banking networks as well as clearing and trading services for the main Italian and International Institutions.

The CEO of SIA, Mr Nicola Cordone, said, “The integration of important hi-tech groups such as SIA and Nexi, thanks to the fundamental role and support of CDP, will create one, large, Italian digital payments player, leader in Europe and boasting the highest levels of excellence for its know-how, people and capabilities of on a global level. This operation will contribute to accelerate our Country on the path of digitalization towards a cashless society. Today, bringing together the strengths of two realities of excellence such as SIA and Nexi, we want to continue leading on innovation, with an even greater emphasis, offering infrastructures and forward-looking technological services, and affirm our leadership in Europe in a sector like e-payments that continues consolidating.”

Previous Article

October 05, 2020

Contour enters live production delivering trade finance blockchain network

Read More
Next Article

October 05, 2020

Top 5 FinTech funding rounds in the United States: September 2020

Read More








IBSi Daily News Analysis

Web3, Indian market

April 16, 2024

Europe

Explosive growth in Web3: UAE and MENA region poised to lead crypto, DeFi, and Metaverse revolution

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

Salt Bank rolls out financial app in Romania with Engine by Starling

Read More

Today

Leeds Building Society taps Mambu for core banking modernization

Read More

Today

Paystand integrates B2B Payments with Microsoft Dynamics 365 Business Central

Read More

Related Reports

Sales League Table Report 2023
Know More
Global Digital Banking Vendor & Landscape Report Q1 2024
Global Digital Banking Vendor & Landscape Report Q1 2024
Know More
Wealth Management & Private Banking Systems Report Q1 2024
Wealth Management & Private Banking Systems Report Q1 2024
Know More
IBSi Spectrum Report: Supply Chain Finance Platforms Q4 2023
Know More
Treasury & Capital Markets Systems Report Q4 2023
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 2023