The new infrastructure will allow banks and payment market operators to significantly reduce the lead time for the development of new products and services, expand their offering, and guarantee concrete advantages in terms of simpler processes, more control and better governance.

BANCOMAT leads the debit card payments market in Italy, with approximately 2 billion payment and withdrawal transactions, worth over 160 billion euros each year, with approximately 34 million cards in circulation. It is owned by 122 Italian banks; part of over 400 that use its services.

The agreement will create a single BANCOMAT Application Center, through which the acquirers’ physical and virtual Points of Sale (POS) and automated teller machines (ATMs) will be able to communicate with the authorization systems of the issuers. This will ensure that BANCOMAT retains direct control over the value chain, as well as innovation and regulatory adjustments.

The long-term vision of BANCOMAT and Nexi will provide clients with a competitive offer based on international best practice as part of a wide-ranging service portfolio, including e-commerce. This would boost the ability to respond quickly to the changing needs of both the mass market and smaller market segments.

“The signing of this contract with Nexi is in continuity with the innovation path started four years ago and confirms the leadership role that BANCOMAT S.p.A. continues to have in the evolution of the digital payments sector,” declared Alessandro

Zollo, CEO and General Manager of BANCOMAT S.p.A. “The development of new cutting-edge technologies will benefit the entire economic-financial system and will position us at the epicenter of the digital revolution."

“The agreement with BANCOMAT is testament to our technological leadership, capable of responding to any market need and bringing scalable benefits to the entire payment system,” commented Andrea Mencarini, Issuing Solutions Director of Nexi.

“For Nexi, it represents another step forward in the digital transformation of payments, which is increasingly widespread in Italy and is now fundamental for the digitalization of the country’s wider economy."

The agreement is a fundamental step for BANCOMAT as it aims to increase the innovation of its services for the benefit of credit institutions and the market as a whole.

Bancomat S.p.A. was assisted in the definition and drafting of the contract by Studio Pedersoli Gattai and, specifically, by Partners Piero Albertario and Licia Garotti and by Counsel Marco Galli while, for the tax profiles, by Prof. Gallo together with Studio Salvini & Soci and, in specific, by Partner Giovanni Panzera from Empoli by Senior Associate Antonello Lops.