Italy-based BANCOMAT and paytech Nexi have partnered to augment Italy’s payment landscape with a new centralised infrastructure, enhancing innovation and efficiency. BANCOMAT, a company that manages one of the most widespread withdrawal and payment circuits in Italy, and Nexi, an Italian paytech company that is part of the FTSE MIB, have signed a multi-year contract for the creation of a new centralised technological infrastructure that will allow BANCOMAT to manage the offer of innovative and high value added payment services optimally and autonomously.

Streamlining operations and driving innovation The new infrastructure will allow banks and payment market operators to significantly reduce the development times of new products and services and to expand their offering, as well as guaranteeing advantages in terms of process simplification, control, and better governance, with the same degree of cost-effectiveness. Furthermore, the agreement will create a single BANCOMAT Application Center, through which the physical and virtual POSs and ATMs of the acquirers will be able to communicate with the authorisation systems of the issuers, ensuring that BANCOMAT has both direct control over the value chain, innovation, and regulatory adjustments. The partnership between also foresees further developments in the future.

Executives from BANCOMAT said that the signing of this contract with Nexi is in continuity with the innovation path started and confirms the leading role that BANCOMAT intends to maintain and strengthen the evolution of the digital payments sector. The development of modern services will benefit the entire economic and financial system and will position them at the centre of Italy’s digital transformation. Also commenting on this collaboration, officials from Nexi said that the agreement with BANCOMAT is concrete evidence of their technological leadership, further strengthened following the integration with SIA, capable of responding to any market need and bringing concrete benefits to the entire system.

For Nexi it represents another step in the path of transformation of the world of digital payments, which are increasingly widespread in Italy and are now fundamental for the digitalisation of the country's economy. .