Nexi partners with Amazon Italy to support Bancomat Pay payments [Yahoo! Finance]
INTESA SANPAOLO S/ADR (ISNPY)
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Source: Yahoo! Finance
shop on its Italian website paying with a local debit card service dubbed BANCOMAT Pay. Italy's ATM machine operator BANCOMAT, owned by more than 100 Italian banks, has been working to expand its online payment service BANCOMAT Pay following an investment by Italian private euquity fund FSI which is now the biggest single shareholder. At present, Italians mostly use the 34 million BANCOMAT cards in circulation for ATM withdrawals. BANCOMAT is Italy's main debit card payments provider, managing around 2 billion payment and withdrawal transactions every year, worth more than 160 billion euros. Nexi Merchant Solutions Director Italy Filippo Signoretti said in a statement the company was a good fit for global players such as Amazon, when they needed partners with a strong presence in domestic markets but also international scale. The payments sector has grown rapidly in recent years, mostly through a wave of mergers and acquisitions, companies sought the financial muscle to keep
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