The European Investment Bank (EIB) is lending Italian paytech giant Nexi Group €220 million to support digital payment innovation.
Nexi will use the EIB funds to develop and manage projects aimed at modernising digital payments in Europe, and to finance specific initiatives that tap Nexi Digital, a European innovation hub created in collaboration with Reply.
Europe's largest paytech says the projects funded by EIB money are aligned with its ESG objectives - digital payment innovation, creating jobs for young people and in disadvantaged
areas, and enhancing environmental sustainability by optimising data centres and using the cloud.
EIB VP Gelsomina Vigliotti says: “This operation represents a major step forward in the development of Europe-wide digital payment solutions, helping to reduce the use of cash and prevent fraud and tax evasion."