Nexi, Piteco Together Launch B2B Solution for Faster Payments

Payments tech firm Nexi will be working alongside Piteco, an Italian company that provides treasury management and financial planning solutions, to help companies add new digital pay solutions to ease supply chain problems, a press release said.

The service gives an extra line of credit along with a controlled, automated and secure management of authorization flows, in order to improve liquidity to the supply chain.

The integration will let companies access tools for optimizing cash flows, scheduling payments in better ways to avoid the impacts of global crises. And businesses will be able to use the new credit lines to access new timely payments for suppliers based on deferred debt.

The point is to cut down on the financial stress companies are exposed to. The report lists some of the examples of the financial stress, including some companies in Italy which had more than 30 days’ delay on payments.

“The partnership with Piteco allows us to provide Italian companies with an innovative, reliable and secure tool that offers them tangible advantages in the daily management of their liquidity,” said Alberto Panariello, head of Cards Sales & Partnerships at Nexi. “This is a significant expansion of the range of services we offer businesses and proof of how digital payments can guarantee large corporations and SMEs efficiency, speed and better business management.”

See also: Italian Payments Bank Nexi Acquires German POS Firm Orderbird

Nexi’s payment unit Nets also recently acquired the German cloud-based point of sale firm orderbird, PYMNTS wrote, with the goal being to support orderbird’s integrated pay services for hospitality.

It will also help orderbird grow its international footprint.

Nets was already a shareholder in orderbird, the report noted, through Concardis, its German digital payments provider. Nets had increased its stake last year in the company, too.