The European Investment Bank (EIB) is providing a loan of €220 million to Italian paytech leader Nexi Group to foster digital payment innovation.
Nexi plans to utilize the EIB funds to develop and oversee projects that aim to modernize digital payments across Europe. This includes financing specific initiatives through Nexi Digital, a European innovation hub established in collaboration with Reply.
As the largest paytech in Europe, Nexi emphasizes that the projects backed by the EIB align with its environmental, social, and governance (ESG) goals. These include advancing digital payment technologies, creating job opportunities for youth and in disadvantaged areas, and promoting environmental sustainability by optimizing data centers and leveraging cloud solutions.
EIB Vice President Gelsomina Vigliotti stated, “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.”