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UniCredit: confirms talks over renewal of SIA deal

( - UniCredit and Italian payment services group SIA confirmed on Tuesday that they are in talks over the renewal of their card processing deal.

In a press release, UniCredit said that it has entered into exclusive negotiations with SIA about their current outsourcing agreement for the supply of card transactions services in Italy, Austria and Germany.

The deal, which also covers the management of point-of-sale (POS) terminals and cash machines, could be renewed until 2036, the Italian lender said.

UniCredit and SIA said they aim to close the transaction in early 2021, in line with the timetable envisaged for the recently announced Nexi-SIA merger.

SIA and its Italian peer Nexi announced yesterday that they planned to merge to create a "European digital payments paytech leader."

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