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UniCredit, SIA to renew card-processing deal

Wednesday 7 October 2020 14:20 CET | News

Italy-based banking group UniCredit has announced negotiations to renew the card-processing services agreement with payments provider fintech SIA.

The talks are regarding the outsourcing of certain card processing services in Italy, Austria, and Germany. It also includes the management of ATMs and point-of-sale (POS) terminals in these countries, according to electronicpaymentsinternational.com.

Subject to regulatory approvals, the two companies aim to sign the renewal deal in early 2021, which will be effective until 2036. This move comes soon after the Italy-based lender Nexi signed a memorandum of understanding (MoU) to buy SIA, at an all-share deal value of EUR 4.56 billion.


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Keywords: UniCredit, SIA, card processing, fintech, Italy, payments provider, Italy, Austria, Germany, ATM, POS, point of sale, Nexi, MOU
Categories: Banking & Fintech | Payments General
Countries: Europe
This article is part of category

Banking & Fintech