# Italy’s Nexi signs digital payments deal with TIM’s Olivetti Author: Pal Sinha, Barnali Author URL: https://financedigest.com/author/pal-sinha-barnali Published: 2022-12-28 Category: NEWS Category URL: https://financedigest.com/category/news Meta Title: Nexi and Olivetti Join Forces for Electronic Payment Meta Description: Discover how Nexi and Olivetti are revolutionising electronic payments for businesses in Italy, with integrated solutions for retailers and cash registers. URL: https://financedigest.com/italys-nexi-signs-digital-payments-deal-with-tims-olivettihtml ![undefined](https://prod.superblogcdn.com/site_cuid_cm5qst7v3003gwirgwqtxn8i8/images/2022-12-27t205954z2lynxmpeibq093rtroptp4nexi-olivetti-1736814671686-compressed.jpg) xMILAN (Reuters) – Nexi and Telecom Italia’s Olivetti have teamed up to provide advanced electronic payment solutions to businesses, the companies said on Tuesday. Under the accord, Nexi’s payment systems will be built into Olivetti’s cash registers, they said in a joint statement, with the companies also planning to develop and sell integrated tax and payment solutions for retailers. Nexi, Europe’s biggest payments group by volumes, will be able to offer its services through Olivetti’s commercial network, which comprises more than 300 dealers and distributors, they said. No [financial details of the partnership](https://www.financedigest.com/prophet-unveils-strategic-partnership-with-fintech-membership-body-innovate-finance.html "Prophet Unveils Strategic Partnership With Fintech Membership Body Innovate Finance") were disclosed. “The partnership between Olivetti and Nexi … aims to [boost electronic payments](https://www.financedigest.com/how-the-epa-plans-to-boost-confidence-in-the-uk-payments-industry-post-brexit.html "How the EPA plans to boost confidence in the UK payments industry post Brexit"). Merchants will be able to subscribe to a single offer to receive a smart cash register and [payment services,”](https://www.financedigest.com/igtbs-payments-services-hub-faq.html "iGTB’s Payments Services Hub – FAQ") they said. Olivetti owns a significant [share of the Italian market for cash](https://www.financedigest.com/orpea-shares-jump-on-q4-revenue-and-cash-boost.html "Orpea shares jump on Q4 revenue and cash boost") registers and … thanks to accords with leading fintech companies, has been strengthening its role as TIM’s [digital payments](https://www.financedigest.com/can-i-please-speak-to-someone-why-building-relationships-is-still-crucial-in-digital-payments.html "“Can I please speak to someone?” Why building relationships is still crucial in digital payments") provider. Italy lags behind the European average in terms of digital payments, which account for a third of the total, Nexi data shows, compared with [nearly half](https://www.financedigest.com/nearly-half-of-parents-still-give-pocket-money-to-their-adult-children.html "Nearly half of parents still give pocket money to their adult children") in Europe as a whole. However, the pace of growth in [digital payments has been faster](https://www.financedigest.com/you-cant-get-faster-than-that-spring-statement-update-delivered-digitally-as-it-happens-with-app-driven-technology.html "‘You Can’t Get Faster Than That’ – Spring Statement Update Delivered Digitally As It Happens with App-driven technology") than in the rest of Europe in recent years, the European Central Bank says. In a break with previous governments that sought to promote electronic payments, [Prime Minister](https://www.financedigest.com/britains-queen-elizabeth-will-appoint-new-prime-minister-at-balmoral.html "Britain’s Queen Elizabeth will appoint new prime minister at Balmoral") Giorgia Meloni’s right-wing executive had proposed scrapping fines for retailers refusing card payments for small sums. Criticised by both the Bank of Italy and the European Commission for a move they said could aid tax evasion, the government dropped the measure and requested payments firms and [banks](https://www.financedigest.com/5-ways-banks-can-compete-in-payments.html "5 ways banks can compete in payments") consult businesses over axing fees on small payments. In the absence of a deal by March 31, the [government said it would tax half](https://www.financedigest.com/european-governments-spend-half-a-trillion-euros-on-energy-crisis-report.html "European governments spend half a trillion euros on energy crisis – report") of the proceeds on small transactions and return the money to shopkeepers. (Reporting by Valentina Za; Editing by David Goodman) --- This blog is powered by Superblog. Visit https://superblog.ai to know more. ---