Key Points
MILAN, Nov 9 (Reuters) - Nexi (NEXII.MI) is happy to work with UniCredit (CRDI.MI) to help one of its biggest clients achieve its ambitions in payments, but the contract between the two groups is "solid" and any change would have to benefit both, Nexi said on Thursday...
Italian payments infrastructure group SIA in 2016 signed a 10-year contract with UniCredit to manage cards and shop payments as well as cash withdrawal machines ahead of a being acquired by Nexi, which inherited the contract...
CEO Andrea Orcel months ago started a review of UniCredit's payments business with a view to managing it in a more unified way across the bank's various markets, prompting concerns among investors it might seek new partners, in a blow to Nexi...
And therefore there are no fees to be paid because there is no option, just to be 100% clear," Mingrone said.. While the contract is "very solid" and runs over the long term, Nexi is "very keen to help UniCredit achieve their ambitions in payments, which are growing," Nexi CEO Paolo Bertoluzzo added...
"They want to invest more in payments not less," he said.. Orcel has been keen to grow UniCredit's fee revenue and payments is one of the few fee-yielding businesses the bank retains, after Mustier sold asset manager Pioneer and online broker Fineco...
