Through this transaction, Enel X increases its contact points with its customers and gains access to a network of approximately 5,000 PayTipper shops throughout Italy
PayTipper is an Italian Fintech that offers consumers widespread and easy access to payment services
Rome, November 14th, 2019 – Enel X, as part of its strategy to develop and provide services in the financial sector, has entered into an agreement to acquire – subject to the Bank of Italy's approval – a 55% stake in PayTipper’s share capital, the Payment Institution that has an agreement with a widespread network of sales outlets to offer its customers financial services that facilitate people's daily lives.
“This agreement represents a further step forward in the growth strategy in the payment services market and gives us a widespread presence throughout Italy with access to PayTipper's network of shops," said Francesco Venturini, head of Enel X. "Our goal is to offer people a complete range of financial solutions ranging from digital payment to the possibility of choosing the points of sale closest to their homes.”
“Enel X's entry into the corporate structure of our company opens up new growth scenarios for PayTipper that will enable us to expand the range of services we offer the public and businesses, in innovative and exclusive ways," said Angelo Grampa, CEO of PayTipper. "The expertise and know-how in the field of payment services, which PayTipper has built up in recent years and which are recognised by the market, will contribute to making Enel X a leading player in this sector.”
By purchasing a majority stake in PayTipper, Enel X will be able to access a network of points of sale comprising around 5,000 shops across Italy (of which around 3,000 are direct and 2,000 are partner shops), offering a payment service that is complementary to that offered by Enel X Financial Services via its digital platform. The objective is to reach private individuals who continue to carry out transactions at participating businesses and who together account for more than 60% of payments in Italy.
Enel X intends to use the two channels, digital and physical, in a complementary way to better address the needs of its customers. Access to the physical channel and a more widespread presence in Italy will, therefore, make it possible to expand how new customers are acquired and to promote the products and services offered by Enel Group’s companies.
Enel X's acquisition of a controlling interest of 55% in PayTipper's share capital is subject to the suspensive condition of Bank of Italy's authorisation, as required by law.
Enel X is Enel's global business line dedicated to the development of innovative products and digital solutions in sectors where energy is showing the greatest potential for transformation: cities, homes, industries and electric mobility. The company is a global leader in demand management with a demand management capacity of more than 6 GW globally managed and assigned in the Americas, Europe, Asia, and Oceania.
PayTipper S.p.A. is a Payment Institution authorised by the Bank of Italy under art. 1(b) of Italian Legislative Decree no. 11 of January 27th, 2010) that provides innovative, secure and highly customisable payment solutions and services to meet the needs of individuals, businesses, networks, and institutions.