“We are buyers.” BANCOMAT drives the fintech soul.

What does the agreement you have just signed with Amazon entail?

“From now on, it will be possible to make purchases on Amazon through the Bancomat Pay digital wallet. The agreement was the result of a long work because Amazon is very demanding in terms of security and payment fluidity. Our solution met both requirements thanks to two-factor authentication and ease of use. If we add to this that our system has lower commissions than the others, we understand why we are convinced that many platforms will integrate it in a short time.”

The agreement with Amazon follows the one with Apple to bring PagoBancomat cards to Apple Pay: aren't you afraid that tomorrow big tech may skip payment intermediaries?

“Big tech companies want to offer payment services, but they don't want to build and manage the underlying infrastructure. Instead, this is the task of specialized operators such as Bancomat: wanting to make a comparison with logistics, in payments we manage the last mile for web giants and, in general, for all online merchants who want to sell in Italy”.

Is this the role you imagine for Bancomat in the Italian payment industry?

“We have always been a platform at the service of Italian banks, companies and citizens and with a specific mission: to improve payments. Over time, however, the stratification of services and brands has created a bit of confusion that does not fully enhance our offer. Bancomat Pay, for example, already allows peer-to-peer payments like PayPal, but few know it.”

How to remedy it?

“When developing our offer and communication, we want to start from the customer's needs and not from the product, as has sometimes happened in the past, creating sophisticated but uninteresting solutions for users. Instead, the watchword must be simplification.”

Even in the number of brands? Could it be only ATM left?

“It's a possibility, but we're considering several: certainly, we want the perception of Bancomat to go beyond cash desks and debit cards.”

Speaking of debit cards, in market shares you are now head-to-head with Mastercard: are you afraid of competition from international circuits?

“They are not our competitors, we cooperate: just think that out of 30 million cards in Italy you can already find our brand next to that of Visa or Mastercard. As the definition itself suggests, national circuits such as Bancomat have their raison d'être in domestic payments. International circuits, on the other hand, were created for transactions to the rest of the world, with the attendant costs.”

What does it mean?

“Since they don't have to travel long distances across borders, ATM payments have lower commissions for merchants. Passing through operations on a national infrastructure also has a strategic value for Italy, strengthening that autonomy whose value all countries are rediscovering.”

In this regard, do you want to reach an agreement with Poste on the issuance of cards?

“There have been dialogues and the dialogue may resume in the future.
Having said that, Bancomat and Poste are two Italian system actors that already collaborate in different areas: our cards, for example, are accepted at post offices.”

Are digital identity and digital euro topics that interest you?

“Of course, we are reflecting on how Bancomat can develop value-added services linked, for example, to public administration, loyalty programs and, in general, to the enhancement of data. This, on the other hand, was my responsibility in my previous position at Mastercard.”

Also through acquisitions?

“It's one of the arrows in our bow. FSI has just injected 75 million in capital increase, we have no debts and our operating margin is positive: we do not lack resources for acquisitions that accelerate growth in value-added services. Nor do we lack the support of shareholder banks.”

Of all of them? UniCredit has not approved FSI's investment in Bancomat and seems to have doubts about the plans.
“ATM looks at the market. Unicredit, after all, has a representative on the Bancomat board and uses most of our services.”

Are you also looking to grow abroad?

“We have already signed some interoperability agreements with domestic circuits in Spain, Portugal and Austria. Others may follow, but our priority at the moment is Italy.”

Why?

“We only want to invest where we can provide customers with better and easier services. In the fragmented European payment market, there is now little chance of remaining faithful to this line. Of course, the advent of the digital euro could change everything and we will be ready.”