Nexi Transforms Its Merchant Acquiring Business With OpenWay’s Way4 Platform
- 13.10.2020 02:35 pm
Nexi, a leading digital payment company in Italy serving over a million merchants, is transforming its business with the help of OpenWay, a payment processing software vendor ranked #1 by Gartner and Ovum. Nexi’s new merchant acquiring platform from OpenWay has obtained full Visa and Mastercard certification and gone live.
To ensure fast time-to-market, product flexibility and quick deployment across all service points, Nexi is relying on OpenWay’s Way4 digital payments software platform. Together, the companies are consolidating all of Nexi's merchant acquiring portfolios, previously outsourced to various processors, on a single Way4 installation. Nexi is managing Way4 in-house.
This project is a part of Nexi’s transformation program. Its aim is to centralize payment capabilities and to give Nexi full control over its merchant acquiring operations. This will maintain the company’s business and technological leadership, and serve to increase the company’s market share and transaction volumes well into the future.
OpenWay is providing Nexi with a new core acquiring platform, centralized merchant management, clearing and settlement, and interfaces to Visa and Mastercard, with other international payment systems forthcoming. The Way4 platform will also perform end-to-end reconciliation for all payment systems supported by Nexi, including PagoBancomat, a local Italian interbank debit card network. It fully addresses Nexi’s needs for scalability, high flexibility, comprehensive pricing management, and support of multiple merchant payment models.
The project has several phases. Phase one is completed: the system was fully certified by Visa and Mastercard and currently runs in production. The following phases will include the gradual migration of merchants and the implementation of new functionalities.
Giuseppe Dallona, CIO of Nexi, comments: “Way4 addresses our need for fast time-to-market and large target volumes. The system architecture allows us to centrally manage all our operations, launch innovations and sustain transaction volume growth. We enjoyed a wonderful collaboration and built friendships with OpenWay's incredible engineers. No virus can beat great teamwork!"
Pavel Gubin, Director of Sales EMEA and Americas, OpenWay, says: “We are proud of our collaboration with Nexi. They are a good example of a large acquiring business managed by an innovative, highly professional team with ambitious goals. Our aim is to help Nexi become fully digital and reach their goals faster, at the same time assisting the company in maintaining its high standard of service.”