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Italian Economic Diplomacy 17 November: latest news from around the world

DENMARK: MERGER OF NEXI SPA WITH NETS

Italian digital payments provider Nexi SpA has finalised an all-share merger with Danish rival Nets, according to which Nexi will receive a majority stake in the new group with 61% of the shares.

Nexi S.p.A. (formerly known as CartaSi) provides digital payment services and infrastructure for credit institutions, financial companies, businesses and government. The Danish-based company Nets operates the “Dankort” platform, Denmark’s number one digital payment service, and “Nem-ID”, a common log-in solution for Danish residents aged 16 and over for online banking and government services and websites.

The merger of Nexi and Nets takes place in a fast-changing environment of rising market concentration at international and European levels in the digital payments sector. The new group will be operating in over 25 countries, with estimated revenues for 2020 of 2.9 billion euros, and prospects of growth in both Central and Southern Europe and the Nordic countries, which are the areas where the two original groups are respectively most rooted.

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