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Ivs Group announces the acquisition of Moneynet payment institution

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GRAND DUCHY OF LUXEMBOURG — IVS Group S.A. informs that its 100% controlled subsidiary CSH S.r.l. has signed a contract for the acquisition of 100% of Moneynet S.p.A. specialised in e-money and payment services, presently owned by Nexi Group through the subsidiaries Bassilichi S.p.A. and Consorzio Triveneto S.p.A.

Moneynet is an “hybrid” Payment Institution (IP), managing two separate activities:

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a) payment services, with a segregate destined equity, according to Bank of Italy authorisation (IP business);

b) services related to assistance on the field for installation and maintenance of POS networks, carried out by specialized technicians (Field business).

The expected price (equity value) for the purchase of 100% of Moneynet S.p.A. shares is equal to Euro 100.000 (one hundred thousand); at the closing date the target company shall have a positive Net Financial Position of around Euro 3 million. The transaction is subject to the authorisation of Bank of Italy.

The acquisition of Moneynet by CSH fits into IVS’ project of developing and integrating the services provided, taking advantage from the Group divisions’ network and infrastructures.

With the progressive integration of Moneynet services, a new possibility to change cash into account money will be made available – in addition to bank branches – by using the network and skills of Coinservice division. At the same time, Moneynet authorisations will allow CSH subsidiary – Venpay S.p.A. – to activate, through its systems and apps (CoffecApp® e Moneytor®), new payment services in addition to those available on the vending machines, by using the existing capacity to manage and move cash (coins) already present in the Coinservice division (of which IVS is one of the main clients) and in other vending companies.

As the European leader in innovation applied to the vending sector, IVS Group counts on a vending machine network that is increasingly digitalized and displays ever enhanced operational capabilities. Since 2000, IVS was the first company in the sector to apply telemetry connection technology to vending machines (today around 25,000 are connected via telemetry). Between 2013 and 2014 Venpay then built the largest “unattended” and “monotenant” POS network in Italy (around 5,000 POS have been installed on vending machines). And across 2017 and 2018 further developed its interconnection and electronic payment systems by implementing apps which can ben used on the vending machines’ circuit, which is currently closed and privative, taking advantage also from the opportunities opened up by the Industry 4.0 Decree.

CoffecApp®, the app developed by IVS through its subsidiary Venpay S.p.A., is registering an increasing use by consumers (at the end of 2018 there had been about 190,000 downloads and over 40,000 returning users, compared to 65,000 downloads and 16,000 users at the end of 2017). And this development is only at its inception, as CoffecApp® is currently installed only on a small part (about 12%) of IVS group’s vending machines. But the overall potential user base is vast, which includes the large number of customers who use and pay for their consumptions at the vending machines provided with the systems developed by Venpay (about 2-2.5 million people per day, for a total of about 850 million consumptions per year considering just IVS clients).

One of the features of CoffecApp® is the possibility, offered to users, to recharge an electronic “wallet” on their smartphones, not only by transferring money from credit cards, but also by paying cash (coins or small bills) directly to coin acceptors and banknote acceptors installed on the vending machines of the network, and therefore available in large numbers on the territory, in corporates, schools, hospitals and other places open to the public.

Thus, customers can easily convert small amounts of cash into electronic/account money. Notably IVS, with its employees in charge for the refilling of the vending machines and through the subsidiaries of Coinservice division, has the capabilities to ensure the efficient management of this cash, at a marginal cost, considering that this additional service would exploit the activities already carried out in connection with the daily vending core business.

With the acquisition of Moneynet, IVS Group will be able to integrate all these functions and services and bring out the greater value inherent in its infrastructures and skills. It will do so by saving a part of current internal costs, as well as offering to its employees (around 2,700 people), to the group’s customers and partners efficient additional services, including those linked to payment accounts.

About IVS Group

IVS Group S.A. is the Italian leader and the second player in Europe in the business of automatic and semi-automatic vending machines for the supply of hot and cold drinks and snacks (vending). The business is mainly carried out in Italy (79% of sales), France, Spain and Switzerland, with around 190,000 vending machines, a network of 79 branches and around 2,700 employees. IVS Group serves more than 15,000 corporate clients and public entities, with around 850 million vends per year.