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The partnership between Microsoft and Nexi will also go beyond the immediate benefit of each other’s technologies.
American multinational tech giant Microsoft Corporation (NASDAQ: MSFT) has announced its strategic partnership with Nexi SpA (BIT: NEXI), an Italian bank that is specialized in payment systems to help drive digital innovation in Europe. As announced by the duo, the partnership will see Microsoft deploy Nexi’s payment solution as its core payment provider for its online business in core European markets.
The integration will encompass e-commerce startups doing business with Microsoft in Italy, Denmark, Sweden, and Norway, with a plan to expand to other countries in the near future. The partnership is a mutually beneficial one on all fronts, and as a result, Nexi will utilize Microsoft Azure Cloud solutions to enhance its own functionalities.
The integration of the cloud service will help Nexi to increase its innovation, agility, efficiency, cybersecurity, and data protection push. Additionally, the company will gain access to Microsoft’s Data Center Modernisation and Consolidation scenarios and is billed to receive authorization to leverage the Italy North data center region cloud services when made available.
“The strategic partnership with Microsoft demonstrates the power of combining deeply local payments expertise with European scale,” said Paolo Bertoluzzo, CEO of Nexi Group, in a statement. “We are proud to help a global player such as Microsoft to increase local reach in strategic markets with our digital payment solutions. It is a concrete proof of our unique ability to bring together European scale, best-in-class solutions, and deep local expertise.”
Paolo also noted that his expectation is that Nexi’s partnership with Microsoft “will accelerate the digitization of payments in Europe and our own cloud transformation, but more importantly, together we will enable innovative solutions, increased agility, and superior efficiency for SMEs, Corporates, Public Administration and Financial Institutions. Furthermore, it will allow Nexi to accelerate the integration of payment capabilities into software platforms to become the “preferred payment partner” for ISVs, also leveraging Azure capabilities.”
Microsoft and Nexi to Float Joint Solutions
The partnership between Microsoft and Nexi will also go beyond the immediate benefit of each other’s technologies. According to the announcement, the duo will also be floating a range of joint solutions and pitch these for adoption to Small and Medium Enterprises (SMEs) and Corporations within the European Union.
“In addition to the benefits this will bring to end users, I see the potential for this expansion to fuel innovation in the broader industry, creating new opportunities for ISVs and startups. Microsoft will also benefit from the Nexi capabilities and solutions for our own e-commerce in several European markets,” Ralph Haupter, president of Microsoft EMEA.
Microsoft is a major player in the cloud service business and is aiming at gaining a higher share of the market when compared with the other major players in the space like the Amazon Web Service (AWS). The partnership with Nexi and the potential the collaboration offers is bound to take it closer to its goal.