Nexi and Compass have announced a strategic partnership in the Buy Now Pay Later (BNPL) business. Compass’ BNPL digital solution PagoLight will be available on Nexi SmartPOS. This allows Nexi’s partner banks to provide retailers with a solution for deferred payment directly integrated into the payment terminal. Several banks have joined the initiative with more to join in the coming weeks.
The partnership between the two companies allows Nexi to provide its partner banks with a product that will enable them to take full advantage of the business opportunities offered by Buy Now Pay Later. Buy Now Pay Later is a continuously growing payment service. According to Politecnico di Milano’s forecasts, BNPL will reach an annual transaction volume of around 14.5 billion euros in 2025.
Compass to expand the distribution of PagoLight in physical shops
Filippo Signoretti, Merchant Solutions Director of Nexi Italy, said: “The agreement we signed with Compass is in harmony with our European PayTech positioning, which is focused on bringing our partners and merchants innovative solutions for business development. In particular, this partnership allows us to provide merchants with a Buy Now Pay Later service which can be used by their customers in physical shops through Nexi SmartPOS in a simple, immediate and secure way, thus increasing sales opportunities.”
The agreement represents an opportunity for Compass to significantly expand the distribution of PagoLight in physical shops. PagoLight is designed to enable merchants to increase both the number of sales and the value of the average purchase, relieving them of the credit risk, which is entirely carried by Compass.
Francesco Caso, General Manager of Compass, commentd: “Thanks to this strategic agreement we are strengthening our presence in the Buy Now Pay Later market, particularly in the physical channel where, through Nexi, we will be able to bring our innovative deferment solutions to merchants and final customers throughout Italy. The partnership with Nexi represents an important milestone for Compass that is consistent with the objectives of the Mediobanca Group’s Strategic Plan to 2026 One Brand – One Culture, which foresees in the development of PagoLight an important driver for the growth of the Consumer Finance division, leveraging innovation and risk assessment capabilities, which have always been distinctive factors for Compass.”
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below formBy GlobalData