Nexi and Olivetti will work together to develop payment solutions for the retail sector. Credit: Towfiqu barbhuiya on Unsplash.

Italian payment technology company Nexi and TIM Group’s IoT specialist Olivetti have formed a technology and business partnership. 

The collaboration will see both firms work together to integrate Nexi’s digital payment solutions into Olivetti’s cash register. 

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Nexi and Olivetti will also develop and market integrated fiscal and payment solutions aimed at the retail sector. 

In addition, the firms have planned a commercial collaboration to distribute Nexi’s solutions via the Olivetti sales network, which comprises over 300 partners including dealers and distributors spread across the country. 

The partnership between Nexi and Olivetti “will make retail payments and cash systems more complementary, with the aim of speeding up a more widespread use of electronic payments,” the firms said in a statement.

“Thanks to the new solutions, merchants will be able to subscribe to a single offer for an advanced cash register and a digital payment service, as well as to improve day-to-day business management, benefiting from an integrated service that offers a secure and fast shopping experience.”

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According to Nexi data, Italy falls short of the European norm in terms of digital payments, which make up a third of the total, compared to nearly half in Europe as a whole, Reuters reported. 

In August this year, Nexi and Microsoft teamed up to facilitate cloud transformation in the area of digital payments for diverse stakeholders in Europe.

Before that, Nexi partnered with Alpha Bank to serve the digital payments market in Greece.