EIB Grants €220 Million to Nexi Group to Drive Digital Payment Innovation and Sustainability in Europe

EIB Grants €220 Million to Nexi Group to Drive Digital Payment Innovation and Sustainability in Europe

(IN BRIEF) The EIB has granted €220 million to Nexi Group to support innovation in Europe’s digital payments sector. The funding will help drive the development of modernized payment solutions, job creation, and sustainability initiatives, reflecting Nexi’s commitment to ESG goals and digital transformation across Europe.

(PRESS RELEASE) LUXEMBOURG, 26-Sep-2024 — /EuropaWire/ — The European Investment Bank (EIB) has provided €220 million in financing to Nexi Group, Europe’s leading PayTech company, to boost innovation in digital payments. Announced in Milan by EIB Vice-President Gelsomina Vigliotti and Nexi Group CFO Bernardo Mingrone, the funding will support various projects aimed at modernizing digital payment services across Europe.

The EIB funds will assist Nexi in driving innovation through Nexi Digital, the company’s technological innovation hub, created in partnership with Reply, a European leader in digital transformation. These initiatives align with Nexi’s environmental, social, and governance (ESG) goals, which include promoting digital payment systems, creating job opportunities for young people and those in disadvantaged regions, and enhancing sustainability by optimizing data centers and developing cloud-based technologies.

This financing marks the first time the EIB has provided a loan to a publicly listed company in the digital payments industry, reflecting Nexi’s role in advancing Europe’s digital transformation.

EIB Vice-President Gelsomina Vigliotti highlighted the significance of this agreement, stating, “This initiative is a key step towards expanding digital payment systems across Europe, reducing cash usage, and combating fraud and tax evasion. It reinforces the EIB’s commitment to supporting digitalization and innovation in both the private and public sectors.”

Bernardo Mingrone, Nexi Group’s CFO, expressed pride in the partnership, stating, “We are honored that the EIB acknowledges our commitment to advancing secure and reliable digital payment services across Europe. This agreement reaffirms Nexi’s crucial role in leading Europe’s digitalization journey.”

Background information

The European Investment Bank (EIB) is the long-term lending institution of the European Union owned by its Member States. It finances sound investments that can contribute to EU policy. EIB projects strengthen competitiveness, foster innovation, promote sustainable development and improve social and territorial cohesion while supporting a fair and rapid transition towards climate neutrality. In the past five years, the EIB Group has provided more than €58 billion in financing for projects in Italy.

Nexi is Europe’s PayTech company operating in high-growth, attractive European markets and technologically advanced countries. Listed on Euronext Milan, Nexi has the scale, geographic reach and abilities to drive the transition to a cashless Europe. With its portfolio of innovative products, e-commerce expertise and industry-specific solutions, Nexi provides flexible support for the digital economy and the entire payment ecosystem globally, across a broad range of different payment channels and methods. Nexi’s technological platform and the best-in-class professional skills in the sector enable the company to operate at its best in three market segments: Merchant Solutions, Issuing Solutions and Digital Banking Solutions. Nexi constantly invests in technology and innovation, focusing on two fundamental principles: meeting, together with its partner banks, customer needs and creating new business opportunities for them. Nexi is committed to supporting people and businesses of all sizes, transforming the way people pay and businesses accept payments. It offers companies the most innovative and reliable solutions to better serve their customers and expand. By simplifying payments and enabling people and businesses to build closer relationships and grow together, Nexi promotes progress to benefit everyone. www.nexi.it/en www.nexigroup.com

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SOURCE: European Investment Bank