Nexi is willing to explore various partnership models with banks.

Italian Payments Giant Nexi Open to Different Partnership Models

Italian payments giant Nexi is open to exploring different partnership models, according to CEO Paolo Bertoluzzo. This comes as leading banks UniCredit and Banco BPM review options for their payments business.

Banco BPM is currently working to select a partner by the end of June for its retailers’ and payment card business, which it has valued at €2 billion ($2.2 billion). Sources have said that Nexi is in the running, though Nexi traditionally acquires full ownership of banks’ merchants payment businesses.

“Different models can work and we are keen to be open to what ultimately banks sees as their strategy,” Bertoluzzo said, adding that the valuation of the business and related up-front payment would need to vary accordingly.

UniCredit is also conducting a review of its payment operations across its 13 markets. Bertoluzzo notes that the payments business is becoming increasingly technology-centred, requiring dedicated partners. “Specialisation in digital payments is becoming the rule of the game,” he said.

Nexi reported a 13.6% rise in first-quarter core profit as transaction volumes grew by double-digit percentages across all its markets, a trend that continued in April. Revenue rose 9% year-on-year to €741.7 million, above an analyst consensus gathered by the company.

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