Italian payments group SIA is considering an Initial Public Offering (IPO) and further acquisitions, as part of an ambitious three-year strategic plan.

Shareholders have agreed on growth ambitions, with a decision due this summer on whether or not to float the company.

In terms of buying up competitors, the firm is reviewing a few targets in Europe, shortlisting potential deals in Austria and Portugal. This would follow the acquisition in October of First Data’s card processing businesses in parts of Central and Southeastern Europe for €387 million.

SIA also published its results for 2018, with group revenues up 8.4 per cent to €614.8 million. The cards segment accounts for 63 per cent of revenues, payments 19 per cent and institutional services 18 per cent.

The board approved a 2019-2021 strategic plan, which aims to create “the leading pan-European payment and tech company”, operating alongside banks, large corporates and the public sector.

"The approval of the new Strategic Plan represents an important turning point in the development of SIA which, by virtue of its strong and distinctive ‘bank friendly’ positioning, aims to become the leading pan-European technology player in the payments industry," said chief executive Nicola Cordone.

"Over the next three years we will pursue this objective by further extending SIA’s presence in the international market and strengthening the relationship with our customers to support them in their competitive challenges by offering innovative and reliable digital solutions and services."

The plan is driven by the introduction of EU payment regulations such as the second Payment Services Directive (PSD2), according to the statement.

SIA predicted consolidation of the markets, which would be mirrored internally by an intention to consolidate its core business in the areas of cards, payments and institutional services “through the acquisition of new customers in Italy and abroad”.

Investments will be targeted at strengthening services and platforms such as mobile payments, instant payments, blockchain technology and smart mobility initiatives.

SIA also plans to hire over 900 new staff in the next three years, “focusing on young people, women and the acquisition of additional digital skills related to cybersecurity, analytics and innovation”.

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