View all newsletters
Receive our newsletter - data, insights and analysis delivered to you
  1. News
May 21, 2021

Nexi in talks to purchase stake in Alpha Bank’s payment business

By Shalini mani

Italian payment firm Nexi is reportedly in discussions to buy stake in Greece-based Alpha Bank’s payment business.

Free Report
img

Prepare for changes in the Payments market

 The Payments market has seen drastic changes in the past few years, with this only expected to continue. What does your company need to do to prepare for what’s to come? GlobalData’s Payment Trends for 2022 report explores the key trends in technology, consumer habits, and regulations shaping the market. We also identify the leading companies in this changing market, giving you a competitive market outlook. This report covers the impact of:
  • ESG
  • E-commerce
  • Mobile payments
  • Alternative payment rails (Real-Time Payments, Blockchain, BNPL)
  • Fraud & Cybersecurity
  • Regulations
Download the report now to learn essential strategies to maximize your growth in the face of rapid change.
by GlobalData
Enter your details here to receive your free Report.

Nexi is planning to set up a joint venture with the bank, which wants to maintain a presence in the business, Reuters reported citing four people aware of the matter.

Nexi is currently in the process of merging with rival payments provider SIA. The company agreed to buy SIA in an all-share deal valued at $5.3bn (€4.56bn) in October 2020.

Alpha, Nexi, and SIA did not comment on the news.

Meanwhile, two of the sources familiar with the development told the publication that SIA was in talks to buy Greek payment network firm Cardlink.

The deals, if realised, are expected to significantly bolster the presence of Nexi-SIA in the Greece market, where Alpha Bank and rival Piraeus Bank have at least 30% share of in-store payment.

In 2018, Alpha Bank’s retailers payment business said to have processed around €9bn in volumes. Around 68% of the volume was linked to domestic card transactions.

Other developments at Nexi

Nexi, which provides payment services for merchants, cardholders, and banks, has been looking to expand its presence in Europe through M&A in recent years.

Last November, Nexi inked a binding framework agreement to acquire pan-European paytech firm Nets for $9.2bn (€7.8bn) in shares.

The deal was approved by European Commission in March this year.

In December 2019, Italian banking group Intesa Sanpaolo agreed to divest its retailers’ payment business to Nexi in a €1bn deal.

The same year, the firm teamed up with ACI Worldwide to enable merchant customers of its partner banks to offer value-added services at POS terminals.

Free Report
img

Prepare for changes in the Payments market

 The Payments market has seen drastic changes in the past few years, with this only expected to continue. What does your company need to do to prepare for what’s to come? GlobalData’s Payment Trends for 2022 report explores the key trends in technology, consumer habits, and regulations shaping the market. We also identify the leading companies in this changing market, giving you a competitive market outlook. This report covers the impact of:
  • ESG
  • E-commerce
  • Mobile payments
  • Alternative payment rails (Real-Time Payments, Blockchain, BNPL)
  • Fraud & Cybersecurity
  • Regulations
Download the report now to learn essential strategies to maximize your growth in the face of rapid change.
by GlobalData
Enter your details here to receive your free Report.

NEWSLETTER Sign up Tick the boxes of the newsletters you would like to receive. A weekly roundup of the latest news and analysis, sent every Wednesday.
I consent to GlobalData UK Limited collecting my details provided via this form in accordance with the Privacy Policy
SUBSCRIBED

THANK YOU

Thank you for subscribing to Electronic Payments International