The logo of Italian payments group Nexi is pictured outside their headquarters in Milan, Italy, March 28, 2019.
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.
Nexi finance chief Bernardo Mingrone told an analyst call on Thursday that the contract did not envisage the possibility of an early break-up.
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.
Asked whether UniCredit might dispose of its merchant acquiring business, Bertoluzzo said he would be "very surprised" if UniCredit did anything with it.
Persons:
Alessandro Garofalo, Nexi, UniCredit, Andrea Orcel, Bernardo Mingrone, Mingrone, Paolo Bertoluzzo, Orcel, Jean Pierre Mustier, Bertoluzzo
Organizations:
REUTERS, SIA, Nexi, Thomson
Locations:
Milan, Italy