Sabadell Moves to Expand Payments Network via Nexi Deal
Sabadell announced on Monday a strategic deal that centers on strengthening its Paycomet arm, the Sabadell payments subsidiary, by transferring a major stake to Nexi and bringing in new technology to boost efficiency and competitiveness. The transaction values the stake at 280 million euros and positions Nexi as a key partner in Sabadell’s card payments ecosystem across workplaces and online channels. The goal is to accelerate Sabadell’s growth in the payments space by leveraging Nexi’s scale and expertise, while Sabadell retains a meaningful minority stake for a multi year period. This move follows Sabadell’s prior strategic steps in the payments arena, including ancillary asset moves and partnerships intended to sharpen the bank’s competitive edge.
The decision was the result of a competitive process opened by the business and attracted interest from several industry players, including the French payments leader Worldline. Nexi emerged as the selected partner after a rigorous evaluation, reflecting the strong demand for consolidation and technology-driven upgrades in European card payments. The alliance is designed to run for up to ten years and will grant Sabadell access to cutting edge technology, enabling a sharper value proposition for customers who rely on Sabadell for card payments at points of sale and digital channels. The bank currently operates a sizeable network in Spain that supports tens of thousands of payment terminals and processes a significant share of national transactions.
At present, Sabadell operates thousands of POS terminals across Spain and directs a substantial portion of the country’s card transaction volume through its network. The scale of the Paycomet operation has been highlighted by the bank’s leadership as a platform capable of delivering improved efficiency, better service quality, and more advanced technology to merchants and clients alike. The investment by Nexi includes an 80 percent stake in Paycomet, with Sabadell retaining a 20 percent stake for a minimum three years. A put option could allow Sabadell to realise additional value in the future, depending on target achievements, with the total transaction value potentially rising to a higher figure if performance milestones are met.
Experts describe the arrangement as delivering economies of scale and cost efficiency across Sabadell’s payments offer, improving technology quality and specialization. These benefits are expected to enhance service for Sabadell clients while expanding the bank’s capabilities in a market that already features a considerable Sabadell market share. Nexi’s leadership emphasizes the strategic importance of the partnership for expanding growth in Spain and integrating Sabadell into a broader European payments ecosystem. This step is viewed as a significant milestone in Sabadell’s long term strategy for payments leadership within Europe.
Sabadell plans to maintain a competitive pricing stance by lowering client commissions following the regulatory and market approvals associated with the deal. If all required approvals are secured, the transaction is expected to positively affect Sabadell’s capital and income statement from the first year after the closing. The move is aligned with Sabadell’s objective to deliver improved returns while maintaining a robust risk and capital profile for its customers and shareholders. The overall outcome is anticipated to strengthen Sabadell’s position in the national payments market and support continued growth in card processing for merchants and consumers alike.