Banca di Asti has signed an agreement to transfer its merchant acquiring business to BCC Pay for €37 million, enhancing its operational capabilities while forming a strategic partnership in the fintech sector.
Target Information
Cassa di Risparmio di Asti S.p.A. (referred to as 'Banca di Asti') is a prominent banking institution based in Italy. The bank specializes in providing comprehensive financial services, including personal and business banking, with a focus on the local community. As part of its strategic initiatives, Banca di Asti has decided to transfer its merchant acquiring business to BCC Pay S.p.A. ('BCC Pay'), thereby enhancing its operational capabilities in the growing digital and fintech landscape.
The merchant acquiring business of Banca di Asti includes a significant portfolio of over 9,000 merchants and approximately 11,000 POS (point of sale) terminals. This sector has reportedly generated transaction volumes of around €1 billion in 2022 alone, reflective of the bank's substantial presence in the merchant services market.
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Industry Overview
The merchant acquiring sector in Italy has witnessed significant growth, driven by the increasing adoption of digital payment solutions and the proliferation of e-commerce. With a rising customer preference for contactless and m
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BCC Pay S.p.A.
invested in
Banca di Asti
in 2023
in a Strategic Partnership deal
Disclosed details
Transaction Size: $54M
Revenue: $1,098M