Commerzbank taps Nexi to develop card processing solution

German banking group Commerzbank has selected Nets, part of the European paytech Nexi Group, to develop a solution for processing credit, debit and prepaid cards.

Commerzbank partners Nexi

Nexi says it is aiming to develop a “streamlined and scalable” solution, with the bank’s card processing operations being managed by Nets going forward.

“Across the Nexi Group, we have gained extensive experience along the entire value chain of digital payments for years,” says Torsten Hagen Jørgensen, head of issuing solutions at Nexi Group.

“Being trusted by Commerzbank to offer our modular, flexible, and customer-focused services is a key milestone for our issuing solutions business in Germany.”

On the new partnership, Nexi says the DACH region is an “important potential growth area” for the firm and it hopes to “continue to consistently expand its market presence”.

Nets is part of Nexi Group, which offers merchant services and solutions, cards and digital payments, and digital banking and corporate solutions to companies across Europe.