French retail banking group BNP Paribas is reportedly planning to offload its Italian payments business Axepta.
The bank is in talks with its advisers on the potential divestment of Axepta by early next year, Bloomberg reported citing people familiar with the matter.
Axepta is a merchant acquiring unit that Bottom of Formspecialises in electronic payments management.
The company could be valued at €200m ($240m), the report added.
Axepta handles nearly 15 million payment transactions each month. It employs 100 people in Italy, according to its website.
Additionally, the payments arm offers payments and e-commerce advisory services to small and medium-sized enterprises (SMEs), retailers and artisans, according to Bloomberg.
Spain’s Banco Santander agreed to acquire highly specialised technology assets from the European merchant payments business of insolvent payments firm Wirecard.
Italian payments processor Nexi inked a binding framework agreement to acquire pan-European paytech firm Nets.
American banking giant Wells Fargo considered selling its private-label credit cards businessl as part of its broader restructuring strategy to save costs.
US-based integrated payment solutions provider Repay Holdings acquired the B2B payments and AP automation technology provider CPS Payment Services (CPS).
UK-based fintech group Mode Global Holdings purchased remaining 45% minority stake in its payments subsidiary JGOO.