UniCredit and SIA announce that they have signed an agreement to update the overall terms of their current outsourcing agreement for the provision of certain processing services in Italy, Austria and Germany relating to card transactions and the management of POS and ATM terminals. The new terms of the agreement allow SIA to renew the agreement until 2036. As part of the agreements reached, SIA paid UniCredit an amount of 228 million euros in line with expectations.
On October 5, 2020 this was communicated: “With reference to the announcement of a agreement between Nexi and SIA which will lead to the creation of a European champion in the digital payments sector, UniCredit and SIA confirm that they have entered into exclusive negotiations on the current outsourcing agreement for the supply of certain processing services in Italy, Austria and Germany relating to card transactions and the management of POS and ATM terminals, and its renewal until 2036. The parties aim to finalize the binding agreements in the first months of 2021, in line with the timescales envisaged to meet the regulatory obligations relating to the merger Nexi-SIA recently announced”.
