Italian Payments Bank Nexi Acquires German POS Firm Orderbird

Nets, the payments unit of the Italian bank Nexi, is acquiring a majority stake in Germany’s cloud-based point-of-sale firm (POS) platform orderbird.

The tie-up will support orderbird’s integrated payment services for the hospitality industry and grow its international footprint, according to a press release on Thursday (May 12). Nets was already a shareholder in orderbird through its German-based digital payment provider Concardis and upped its stake last year.

Under the agreement, orderbird will retain its branding and operate as a separate business within Nexi. Under the Nexi Group umbrella, orderbird can be supported as it enters its next stage of corporate development, according to the release. The orderbird management team will also remain in place.

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“Making neighborhood businesses more successful is what orderbird is all about. One of the reasons our customers are successful is because they are always digitally up to date with us and can use the same technologies as their larger competitors,” said orderbird CEO Mark Schoen. 

“Joining forces with the Nets/Nexi Group, a recognized European PayTech leader, allows us to take this mission to the next level. This will collectively enhance our business presence in Europe while continuing to provide our customers with the best and most relevant solutions they need today – and tomorrow,” Schoen added.

Read more: Nexi Makes $400M Bid for Payment Unit of BPER Banca 

Nexi Group will benefit from orderbird’s digital expertise in helping small- to medium-sized businesses (SMBs) via its customer-focused software-as-a-service (SaaS) solutions. The comingled entity boosts Nexi’s offerings and furthers its inroads in hospitality. 

Jakob Schreyer, founder and chief strategy officer of orderbird, said the deal gives orderbird the ability to maintain its “total focus on enhancing our leading propositions” while also addressing customers’ needs.