# Nexi open to options as Banco BPM seeks partner
Author:  Pal Sinha, Barnali 
Author URL: https://financedigest.com/author/pal-sinha-barnali
Published: 2023-05-11
Category: NEWS
Category URL: https://financedigest.com/category/news
Meta Title: Nexi Open to Banking Partnerships Amid Banco BPM Search
Meta Description: Italian payments giant Nexi is ready to collaborate with lenders, adjusting to their preferred models as leading banks UniCredit and Banco BPM review options
URL: https://financedigest.com/nexi-open-to-options-as-banco-bpm-seeks-partnerhtml

![undefined](https://prod.superblogcdn.com/site_cuid_cm5qst7v3003gwirgwqtxn8i8/images/2023-05-11t060436z1lynxmpej4a05yrtroptp4nexi-results-1736814030969-compressed.jpg)

# Nexi open to options as Banco BPM seeks partner

By Valentina Za

MILAN (Reuters) -Italian payments giant Nexi is keen to enter partnerships with lenders and will adjust to their preferred models, it said on Wednesday as leading banks UniCredit and Banco BPM review options for their payments businesses.

Nexi CEO Paolo Bertoluzzo made the comments as the group confirmed 2023 guidance after reporting first-quarter profit in line with forecasts, though revenue exceeded expectations.

Banco BPM is working to select a partner by the end of June for its retailers’ and [payment card](https://www.financedigest.com/fingerprints-and-tag-systems-collaborate-to-offer-contactless-biometric-payment-cards-globally.html "Fingerprints™ and Tag Systems collaborate to offer contactless biometric payment cards globally") business, which it has valued at 2 billion euros ($2.2 billion) by factoring in future fees.

Sources have said that Nexi is in the running, though Nexi traditionally acquires full ownership of banks’ [merchants payment](https://www.financedigest.com/how-payment-institutions-can-leverage-data-to-support-merchant-customers.html "How payment institutions can leverage data to support merchant customers") businesses, sometimes over years, as with its recent deal with Spain’s Sabadell.

Banco BPM Chief Executive Giuseppe Castagna this week said that Banco BPM was seeking an accord that left it “in the [driving seat”](https://www.financedigest.com/rising-concerns-towards-safety-of-child-are-expected-to-drive-demand-for-baby-car-seat-market.html "Rising Concerns Towards Safety Of Child Are Expected To Drive Demand For Baby Car Seat Market") as in all of the bank’s other partnerships.

Different models can work and we are keen to be open to what ultimately [banks sees](https://www.financedigest.com/europes-banks-brace-for-russia-fallout-while-u-s-banks-see-limited-pain.html "Europe’s banks brace for Russia fallout while U.S. banks see limited pain") as their strategy,” Bertoluzzo said, adding that the valuation of the business and related up-front payment would need to vary accordingly.

UniCredit, meanwhile, is conducting a review of its [payment operations across its 13 markets](https://www.financedigest.com/contactless-payments-spirit-willing-but-is-the-market.html "Contactless Payments: Spirit Willing but is the Market?"). A source with knowledge of the matter said the bank [expects to complete the process by the end](https://www.financedigest.com/membrane-technology-market-is-expected-to-grow-at-a-cagr-of-9-1-by-the-end-of-decade.html "Membrane Technology Market Is Expected To Grow At A CAGR Of 9.1% By The End Of Decade") of September.

“Everywhere … [banks continuously revisit their payments](https://www.financedigest.com/more-banks-join-european-instant-payments-pilot-from-end-2023.html "More banks join European instant payments pilot from end 2023") strategies,” Bertoluzzo said, adding that the 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](https://www.financedigest.com/scaffolding-market-is-prophesied-to-rise-at-6-1-of-cagr-during-the-forecast-period-between-2018-and-2026.html "Scaffolding Market is prophesied to rise at 6.1% of CAGR during the forecast period between 2018 and 2026"), a trend that continued in April.

Revenue rose 9% year on year to 741.7 [million euros](https://www.financedigest.com/sp-global-fined-1-1-million-euros-for-premature-credit-rating-publications.html "S&P Global fined 1.1 million euros for premature credit rating publications"), above an analyst consensus gathered by the company.

Earnings before interest, tax, depreciation and amortisation (EBITDA) was 335.7 million euros, in line with forecasts, with the [core profit](https://www.financedigest.com/ericssons-quarterly-core-profit-misses-expectations.html "Ericsson’s quarterly core profit misses expectations") margin rising by 183 basis points.

($1 = 0.9084 euros)

(Reporting by Valentina ZaEditing by David Goodman)


---
This blog is powered by Superblog. Visit https://superblog.ai to know more.
---