(Alliance News) - Nexi Spa announced Wednesday that it has signed a multi-year contract with Bancomat for the creation of a new centralized technology infrastructure that will enable the latter to optimally and autonomously manage the offering of innovative and high value-added payment services.

As stated in a note, the new infrastructure will enable banks and payment market players to significantly reduce the time it takes to develop new products and services and expand their offerings, as well as provide benefits in terms of process simplification, control and better governance, with the same degree of cost-effectiveness.

In addition, the agreement will create a single Bancomat Application Center through which acquirers' physical and virtual POS and ATMs will be able to dialogue with issuers' authorization systems, ensuring that Bancomat has both direct oversight over the value chain and control over innovation and regulatory adaptations.

"The agreement with Bancomat is concrete evidence of our technology leadership, which has been further strengthened following the integration with SIA, capable of responding to any market need and bringing concrete benefits to the entire system. For Nexi, it represents another step on the path of transformation in the world of digital payments, which are increasingly widespread in Italy as well and are now fundamental to the digitization of our country's economy," commented Andrea Mencarini, Issuing Solutions Director at Nexi .

Nexi trades in the green by 0.5 percent at EUR5.79 per share.

By Claudia Cavaliere, Alliance News reporter

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