Worldline and Credem have teamed up, focusing on enhancing digital payment services and point-of-sale (POS) management in Italy.

This alliance includes the transfer of Credem merchant acquiring activities for an upfront amount of €95m ($100.7m), with a price-adjustment mechanism set for the coming years based on the achievement of targets.

The collaboration will encompass the management of acquiring activities for over 25,000 merchants, involving approximately 32,000 POS terminals.

These terminals facilitated transactions worth about €3bn ($3.2bn) in 2023.

The partnership will last up to 15 years, during which Credem will distribute Worldline's products and services through its network.

This operation aligns with Credem’s strategy to expand its transactional and digital services offerings. These services range from point-of-sale payments to e-commerce and mobile payments.

Customers are expected to benefit from custom solutions and an improved shopping experience, supporting their business growth with Worldline expertise.

The execution of the agreement is contingent upon regulatory approvals, including the Bank of Italy's authorisation, with an expected closing in 2025.

Credem was advised by Vitale & Co on financial matters and by Molinari on legal aspects. Worldline received financial advice from PWC, with legal matters were handled by law firm Cleary Gottlieb Steen & Hamilton.

Worldline Merchant Services Italia (WMSI) CEO Stefano Calderano said: “This partnership is a further consolidation of our presence in the Italian market. Our focus is to ensure service excellence that enables the Bank's corporate clients to equip themselves with digital payment technologies that enable them to grow their business.

“Services, solutions and commercial support to Banks make our offer distinctive in the market and able to meet the needs of Banking Institutions, bringing value to our current and future partners.”

Last month, Worldline launched "Bank Transfer by Worldline," an account-to-account payment method.

"Credem and Worldline forge long-term alliance " was originally created and published by Electronic Payments International, a GlobalData owned brand.

 

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