To ensure fast time-to-market, product flexibility and quick deployment across all service points, Nexi is relying on OpenWay’s Way4 digital payments software platform. Together, the companies are consolidating all of Nexi's merchant acquiring portfolios, previously outsourced to various processors, on a single Way4 installation. Nexi is managing Way4 in-house.
This project is a part of Nexi’s transformation program. Its aim is to centralize payment capabilities and to give Nexi full control over its merchant acquiring operations. This will maintain the company’s business and technological leadership, and serve to increase the company’s market share and transaction volumes well into the future.
OpenWay is providing Nexi with a new core acquiring platform, centralized merchant management, clearing and settlement, and interfaces to Visa and Mastercard, with other international payment systems forthcoming. The Way4 platform will also perform end-to-end reconciliation for all payment systems supported by Nexi, including PagoBancomat, a local Italian interbank debit card network. It fully addresses Nexi’s needs for scalability, high flexibility, comprehensive pricing management, and support of multiple merchant payment models.
The project has several phases. Phase one is completed: the system was fully certified by Visa and Mastercard and currently runs in production. The following phases will include the gradual migration of merchants and the implementation of new functionalities.