IN Groupe acquires Nexi's eID business

Thursday 9 November 2023 13:26 CET | News

Global identity and secure digital services provider IN Groupe has entered an agreement with Nexi to acquire the latter’s eID business.

Through its partnership with Nets, Nexi developed identity and trust solutions in Denmark, contributing to the digitisation of Nordic societies, as per IN Groupe officials’ statements. By combining Nexi’s eID and IN Groupe’s capabilities, the company aims to enhance its ability to support customers across Europe as they face new regulations, including eIDASv2 and NIS2.

Global identity and secure digital services provider IN Groupe has entered into an agreement with Nexi to acquire the latter’s eID business.

Representatives from Nexi stated that the company intends to expand digital payments in Europe and broaden its presence as a provider of digital payment solutions. However, this requires the company to maintain its focus on investments within the payments space. The company decided to divest its eID business to an owner who can develop and maintain the eID solution at the same standards Nexi applied.

As per the information detailed in the press release, the completion of the transaction is subject to customary closing conditions and the authorisation of the Danish government on IN Groupe’s capabilities as their eID solution provider. The company’s strategic objective is to become a well-established player in identity and secure digital services, and a preferred partner for governments and businesses in Europe. By acquiring eID, IN Groupe can strengthen its geographical footprint and serve its customers with a suite of ID and trust services based on enhanced technologies. 

Nexi’s past developments and partnerships

As a paytech company, Nexi operates in high-growth European markets and technologically advanced countries, with its main objective being to drive the transition to a cashless society. With its suite of products, ecommerce knowledge, and industry-specific solutions, Nexi offers flexible support for the digital economy and the payment ecosystem globally across a range of different payment channels and methods.

Recently, Payments Canada partnered with Nexi to further improve the resilience of Lynx, Canada’s payment system. Based on the real-time gross settlement (RTGS) model, wire payments cleared and settled with Lynx intend to be fast, permanent, and made with real-time settlement finality. By using Nexi’s RTGS Extreme Contingency Solution (RECS), Payments Canada aimed to ensure that its operations can continue in the event of a disruption or sudden disaster.

Moreover, at the beginning of October 2023, Nexi announced the expansion of its brand into the DACH region. As of the announcement, payments service providers (PSPs) that are part of the Nexi Group, including Concardin, in Germany and Austria, and Nets, in Switzerland, started to operate under the Nexi brand. The development came as part of Nexi’s strategy to present itself as European by scale and local by nature.

At the end of September 2023, Nexi joined Adobe as a Gold Partner, allowing tailored payment options in Italy, Poland, Nordic, and DACH regions. The development enabled Adobe Commerce merchants to access Nexi’s localised payment solutions, with the partnership allowing businesses to provide a suite of personalised payment methods for their customers. 

Free Headlines in your E-mail

Every day we send out a free e-mail with the most important headlines of the last 24 hours.

Subscribe now

Keywords: acquisition, identity verification, digital identity, fraud management, digital payments
Categories: Fraud & Financial Crime
Companies: IN Groupe, Nexi
Countries: Europe
This article is part of category

Fraud & Financial Crime

IN Groupe



Discover all the Company news on IN Groupe and other articles related to IN Groupe in The Paypers News, Reports, and insights on the payments and fintech industry: