Italian payments provider Nexi has teamed up with corporate treasury management and financial planning solutions providerPiteco to launch a digital payment solution for large corporations and SMEs.

The two companies will bring together their know‐how and proprietary solutions for the new solution, which is expected to support a more rapid inflow of liquidity into the supply chain.

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Furthermore, the integration between Piteco’s software and Nexi’s virtual credit cards will enable companies with tools for optimalisation of cash flows, minimising impacts in terms of liquidity and scheduling payments.

Furthermore, it will enable businesses to rely on an additional line of credit by streamlining payments to suppliers based on deferred debit.

The service provides significant efficiency gains in the management of fully automated authorisation processes, according to a company statement.

Commenting on the partnership, Nexi head of Cards Sales and Partnerships Alberto Panariello said: “The partnership with Piteco allows us to provide Italian companies with an innovative, reliable and secure tool that offers them tangible advantages in the daily management of their liquidity.

“This is a significant expansion of the range of services we offer businesses and proof of how digital payments can guarantee large corporations and SMEs efficiency, speed and better business management”.

Piteco CEO Paolo Virenti added: “Through this important partnership with Nexi, Piteco is proud to continue contributing to the creation of a true Supply Chain Finance culture.

“A culture that combines, on the one hand, the need to make processes seamless and more efficient, and on the other, the desire to operate in a manner consistent with the increasingly widespread and rigorous ESG policies that companies design and adopt.”