Italian payment services group SIA Strategic Plan targets further international growth over the next three years.
According to SIA the aim is to become the leading pan-European payments and technology company.
In addition, the SIA Strategic Plan targets growth higher than the market average in the period to end 2021.
“The approval of the SIA Strategic Plan represents an important turning point in the development of SIA. Over the next three years we will pursue this objective by further extending SIA’s presence in the international market. SIA aims to become the leading pan-European payments technology player,” says Nicola Cordone, SIA CEO.
The SIA Strategic Plan fits into a dynamic global payments market forecast to grow by 6-7% up to 2021. SIA estimates an increase in digital transaction volumes of 3-5% in Europe, a sector worth approximately €80bn.
SIA Strategic Plan economic objectives:
By 2021, SIA aims to achieve consolidated revenues of more than €800m compared to €614.8m in 2018. Release of the SIA Strategic Plan coincides with the release of SIA’s results for fiscal 2018.
“The record results of 2018 are the starting point of our Strategic Plan 2019-2021,” adds Cordone.
SIA’s 2018 revenue is up by 8.4% over 2017. SIA’s cards segment accounts for 63% of revenues, payments 19% and institutional services 18%.
In 2018, the gross operating margin (EBITDA) increases by 12% to €201.4m. 2018 highlights include SIA’s finalising the acquisition of First Data’s business activities in the cards sector in Greece and CEE.
Contract highlights include SIA’s deal with Budapest Bank to supply card processing and issuing services.
In Italy in 2018, SIA supported the launch of Samsung Pay. In digital payments, the Jiffy service developed by SIA grew to 130 banks and 5 million registered users.
Early 2019 highlights include SIA winning the deal to build Canada’s new core clearing and settlement system.