Italian payment company Nexi has entered into a strategic alliance with Microsoft to enable cloud transformation in the digital payments space for various stakeholders in Europe.

The partnership aims to offer simple, one-stop digital solutions for small businesses as well as safe scalable payment cloud-powered set-ups for public authorities to aid citizens.

It intends to provide corporates with solutions that will improve their payment and cash operations. Financial institutions are also expected to benefit from the digital solutions, stated Nexi.

Under the latest agreement, Nexi is set to become one of the primary payment providers for e-commerce acceptance in Italy, Denmark, Sweden and Norway.

The company has chosen Microsoft as the preferred cloud provider for its Azure Cloud Services and others in a bid to improve its efficiency, cybersecurity and data protection capabilities.

Nexi payments solutions are expected to integrate with Microsoft Cloud services and solutions.

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By GlobalData

In addition, the collaboration seeks to create Cloud and digital payments offerings for independent software vendors (ISVs) operating in European markets.

Both the companies are also set to jointly develop new cloud-native payments solutions and services to drive digitisation.

Nexi Group CEO Paolo Bertoluzzo said: “The strategic partnership with Microsoft demonstrates the power of combining deeply local payments expertise with European scale. We are proud to help a global player such as Microsoft to increase local reach in strategic markets with our digital payment solutions.

“It is a concrete proof of our unique ability to bring together European scale, best-in-class solutions and deep local expertise.

“We expect our joint investment in this partnership will accelerate the digitisation of payments in Europe and our own cloud transformation, but more importantly, together we will enable innovative solutions, increased agility and superior efficiency for SMEs, Corporates, Public Administration and Financial Institutions.”

Early last month, Nexi partnered with Alpha Bank to serve the digital payments market in Greece.