Mash and Domec announced today that they will form a joint venture to provide an innovative “pay later” solution to Merchants across Italy. This payment solution boosts Merchant’s sales, increases conversion and generates a higher basket size.
This flexible solution allows new customers to be instantly on-boarded at the point of sale and to defer the payment by simply selecting the Mash payment option from an enabled terminal. The consumers then typically have 14 days to choose how they want to pay their purchase.
“For our ecosystem’s partners, this joint venture with Mash underscores our ability to offer a diverse selection of payment methods and added value services to both Merchants and Acquirers – a fully integrated product that enables Merchants to start, run and grow their business well beyond accepting payments,” said Antonio Sorrentino, CEO of Domec Spa. “This joint venture is a concrete example of our vision to become a Fintech “hub” for added value services.”
According to Gaëtan Van Wynsberghe, CEO of Mash Group PLC, initiating services in the Italian market with Domec is the boldest move in the Fintech group history and it reinforces its pan-European leading position. “We are truly excited about the formation of this joint venture with Domec. Both companies have the same DNA of collaboration. Mash’s advanced payment solutions combined with Domec’s ecosystem in Italy offer a massive opportunity. Domec already collaborates with the main acquiring banks in Italy and manages more than 200 000 POS terminals, which will allow Mash to reach tens of millions of Italian consumers. Merchants and Consumers appreciate simple, fast and efficient services. It is all about making their life easier. Consistent with our strategy and collaborative approach, we expect to deploy our solution with Domec in Italy in 2020. Currently Mash operates in Spain, Poland, Finland and Sweden.”
Domec is a Collaborative FinTech Company active in the sector of innovative Payment Systems and Value-Added Services connected to these. Domec services are active since 2014 and, over the years, through Domec Tools™, its modular and flexible Cloud SaaS platform, support Banks, Public Administrations, Financial Institutes, Telco and Retailers in the Digital Transformation and Open Innovation process. Currently the platform is integrated with over 80,000 companies and 200,000 touchpoints in Italy and Europe, through which it is able to provide its services by managing transactions for values exceeding 100 million euros.
Mash has been at the forefront of fintech innovation since 2007. We leverage our advanced proprietary algorithms, machine learning capabilities, and automated platform to deliver superior finance and payments solutions to thousands of customers every day. We work hard for a future powered by technology, making every transaction seamless, flexible and worry-free. Today, Mash is one of Europe’s leading fintech companies