Payments technology company Nexi will work alongside Piteco, an Italian company that provides cash management and financial planning solutions, to help businesses add new digital payment solutions to solve blockchain problems. supply, according to a press release.
The service offers an additional line of credit as well as a controlled, automated and secure management of authorization flows, in order to improve the liquidity of the supply chain.
The integration will give businesses access to tools to optimize cash flow, plan payments more efficiently to avoid the impacts of global crises. And businesses will be able to use the new lines of credit to access timely new payments for suppliers on a deferred debt basis.
The aim is to reduce the financial stress to which companies are exposed. The report lists some of the examples of financial stress, including some businesses in Italy that were more than 30 days late with payments.
“Partnering with Piteco allows us to provide Italian businesses with an innovative, reliable and secure tool that offers them tangible benefits in their day-to-day cash management,” said Alberto Panariello, Head of Card Sales and Partnerships at Nexi. “This is a significant expansion of the range of services we offer businesses and proof that digital payments can provide large enterprises and SMEs with efficiency, speed and better business management.”
See also: Italian payment bank Nexi acquires German point-of-sale company Orderbird
Nexi’s payment unit Nets also recently acquired German cloud-based point-of-sale company orderbird, PYMNTS wrote, in an effort to support orderbird’s integrated payment services for the hotel.
It will also help orderbird to develop its international presence.
Nets was already a shareholder in orderbird, the report notes, through Concardis, its German digital payments provider. Nets had also increased its stake in the company last year.