ZPAY

What ZPAY does

ZPAY is an Italian Payment Institution (Istituto di Pagamento) authorized by Banca d'Italia in September 2022 (Albo registration number 109, ABI code 18175) and operating as a wholly-owned subsidiary of Gruppo Zucchetti, Italy's largest management software group. The company provides integrated payment acceptance (ZPOS terminals, SoftPOS, Pay by Link, hosted e-commerce checkout), PSD2-based financial services (AISP multi-bank aggregation across 386 Italian financial institutions, PISP payment initiation, Virtual IBAN, IBAN Check / Verification of Payee), and business banking (Conti e Carte business accounts with Italian IBAN and corporate debit cards). Its defining technical and commercial asset is native, no-middleware integration with the Zucchetti ERP and PMS product family (AGO Infinity, Gestionale 1/2, Mago4, Ad Hoc Infinity, Ranocchi, Tieni il Conto, 5Stelle, Vertical Booking, Simple Booking, Beddy, Bedzzle, ZMenu, AlVolo, WellBy), which routes bank feeds, payments and reconciliation directly into the customer's accounting workflow.

ZPAY monetizes through a mix of transaction-based acquiring fees (POS tariffs from 0.82% domestic consumer cards plus fixed per-transaction fees, with sector-specific hotel and retail pricing) and recurring subscriptions on Conti e Carte (€10/€16/€27 per month tiers for Start, Base and Plus). Distribution is exclusively through the Zucchetti channel: in-product embedding for the existing Zucchetti installed base, certified Zucchetti partners and resellers, and direct enterprise sales for vertical-specific deals in hospitality, retail, restaurants, professionals, accounting firms and e-commerce. The company holds PCI DSS, ISO/IEC 27001:2022, ISO 22301 and ISO 9001:2015 certifications, all verified annually by independent auditors, and adheres to the ABF dispute resolution framework.

The business is led by co-founder and CEO Jacopo Vanetti. There is no disclosed external funding, no M&A activity, and operations remain confined to Italy. Revenue, headcount and customer counts are not publicly disclosed; the only disclosed scale metric is 1,247 monthly reconciliations matched at a 98.3% automation rate, indicating an early-to-mid stage of commercial traction within a large captive ERP ecosystem.

Name

ZPAY

Legal name

ZPAY srl

Website

https://zpay.it

Company type

Private

Founded year

2022

Operating status

Operating

Headcount range

1–10 employees

Short description

ZPAY is an Italian Payment Institution, wholly owned by Gruppo Zucchetti, offering PSD2-based payment acceptance (POS, SoftPOS, Pay by Link, e-commerce), multi-bank reconciliation (AISP), payment initiation (PISP), Virtual IBAN, VoP and business accounts natively embedded in the Zucchetti ERP and PMS ecosystem for Italian SMEs and mid-market businesses.

Ownership category

akta.pro rank

Product category

Payment Processing Services

NAICS

Nondepository Credit Intermediation (5222), Financial Transactions Processing, Reserve, and Clearinghouse Activities (52232)

SIC

Finance Services (6199)

akta.pro primary industry

A2A Payment Initiation Service Providers (PISPs) (FSAMAFAB)

akta.pro secondary industries

A2A Bill Pay & eInvoicing (Open Banking Enabled) (FSAMAFAL), POS, SoftPOS & In-Person Acceptance Infrastructure (FSAGABAO), A2A Checkout & Merchant Acceptance Solutions (FSAMAFAF)

Keywords

• Payment processing services
• Merchant acquiring services
• Open banking reconciliation
• Business payment accounts
• ERP payment integration

Headquarters

HQ city

Lodi

HQ country

Italy

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B

Offering type

Software

Cost components

Technology or R&D, Personnel, Infrastructure, Operations, Marketing or Sales

Revenue model

1. Merchant Card Processing (Acquiring): Transaction-based fees charged on card payments processed through POS terminals, SoftPOS, Pay by Link, and e-commerce checkout. Fees vary by card type (domestic, European, international, commercial) and channel (physical POS vs. online). Rates range from 0.82% to 3.27% plus fixed per-transaction fees.
2. Financial Services Subscription (Conti e Carte): Monthly subscription fees for business payment accounts with IBAN, debit cards, and integrated expense management. Three tiers: Start (€10/month), Base (€16/month), Plus (€27/month), with varying numbers of cards and included transfers.
3. AISP/PISP Open Banking Services: Fees for multi-bank account aggregation and payment initiation services. Connected to the Conti e Carte subscription or available as standalone service for Zucchetti ERP users requiring bank feed reconciliation.
4. Pay by Link Transaction Fees: Per-transaction fees for payment links sent via email, SMS, or messaging. Card rates of 1.4% for consumer EEA cards and €0.25 fixed per transaction; €1.50 per transfer via PISP.

Pricing tiers

Go-to-market motion2 records

Distribution channels5 records

Marketing channels5 records

Core offering

ZPAY is an Italian Payment Institution authorized by Banca d'Italia that provides businesses with card acceptance (POS terminals, SoftPOS, Pay by Link, e-commerce), Open Banking services (multi-bank AISP reconciliation, PISP payment initiation, Verification of Payee, Virtual IBAN), and business payment accounts with corporate debit cards. The platform is natively embedded in the Zucchetti ERP and hospitality PMS ecosystem, enabling automatic reconciliation of bank feeds and invoices without third-party middleware.

Product overview

ZPAY is a payment platform operating as a Banca d'Italia-authorized Payment Institution (IP), part of the Gruppo Zucchetti. The offering is organized as a platform with three integrated pillars: (1) Incassi (acquiring) covering physical POS (ZPOS), SoftPOS, Pay by Link, and e-commerce checkout; (2) Servizi Finanziari covering AISP account aggregation for bank reconciliation, Virtual IBAN for payment routing, IBAN Check (Verification of Payee), and PISP for payment initiation; and (3) Conti e Carte providing business payment accounts with IBAN and corporate debit cards integrated with Zucchetti ERP systems. All products share a common backoffice and are natively integrated with Zucchetti ERP and PMS software (AgO Infinity, Gestionale 1, Gestionale 2, Mago4, Ad Hoc Infinity, Ranocchi, Tieni il Conto, and hospitality tools including 5Stelle, Vertical Booking, Simple Booking, Beddy, Bedzzle, ZMenu, AlVolo, WellBy).

Differentiator

Problem solved

Functional benefit

Brands

• ZPAY SoftPOS: Mobile application allowing businesses to accept card and wallet payments using smartphone or tablet as a POS terminal.
• ZPOS
• ZTravel Smart

Products and services

• Incassi (Card Acquiring) Card acceptance platform for Italian businesses covering physical POS terminals, SoftPOS (smartphone-as-POS), Pay by Link, e-commerce checkout, and meal voucher handling, natively integrated with Zucchetti ERP and PMS systems.
• ZPOS Terminal Physical POS terminal (PAX A920Pro) natively integrated with Zucchetti cash register software, accepting cards, wallets, contactless, and meal vouchers with real-time transaction notification back to the management software.
• SoftPOS Mobile application that turns a smartphone or tablet into a contactless POS terminal accepting card and mobile wallet payments, designed for mobile, temporary, or service-based businesses.
• Pay by Link Payment link generator for remote collection, supporting single, deferred, installment, and recurring payments, created from the ZPAY dashboard or via API, sent via email, SMS, WhatsApp, or embedded in invoices.
• E-commerce Checkout PCI DSS-compliant hosted checkout page for online stores supporting card payments, wallets, Satispay, instant bank transfer, tokenization, recurring subscriptions, pre-authorization with separate capture, and real-time webhook notifications.
• Riconciliazione AISP (Multi-bank Reconciliation) PSD2 Account Information Service Provider (AISP) that aggregates bank account movements from 386+ Italian banks into Zucchetti ERP systems, enabling automated reconciliation for accounts receivable and accounts payable cycles.
• Virtual IBAN Service that assigns unique logical IBANs to individual customers, invoices, properties, or sub-accounts mapped to a single physical bank account, enabling automatic payment matching without opening multiple bank accounts.
• IBAN Check (Verification of Payee) Verification of Payee service that checks whether a beneficiary's name matches the IBAN before SEPA transfer execution, returning MATCH, CLOSE MATCH, or NO MATCH to reduce fraud and errors, available via API and within Zucchetti ERP.
• PISP (Payment Initiation) PSD2 Payment Initiation Service Provider enabling SEPA and SEPA Instant bank transfers initiated from ZPAY using the customer's own bank account via SCA authentication, replacing manual CBI file exports and multiple home banking logins.
• Conti e Carte (Business Accounts & Cards) Business payment account with Italian IBAN, virtual and physical corporate debit cards, SEPA transfers, multi-user permissions, and centralized spending controls, integrating natively with Zucchetti ERP via AISP and with ZTravel Smart for expense management.
• ZPAY x ZTravel Smart Expense Management Corporate debit card and payment account integration with Zucchetti ZTravel Smart expense management, automatically recording each card transaction in the employee's expense report with policy controls, approval workflows, and digital receipt capture.

Quantifiable outcome

• 98.3% of reconciliations are automated, eliminating manual matching work
• +3 more outcomes

Segments6 records

Ideal customer profiles5 records

Technology focussed Yes

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

Integration31 records

Feature7 records

Partnerships

Seven partnerships are on record, tiered core.

• Zucchetti GroupcoreStrategic or Co-development PartnerZPAY is the payment platform of Gruppo Zucchetti, Italy's largest management software group. ZPAY is developed and marketed as an integral component of the Zucchetti ERP ecosystem, with native product integration across Zucchetti's accounting, HR, and hospitality software. This is the company's primary distribution channel and product integration framework.
• Zucchetti Hotel Management Systems (5Stelle, Vertical Booking, Simple Booking, Beddy, Bedzzle)coreTechnology or IntegrationNative integration partnerships with Zucchetti property management systems (5Stelle, Vertical Booking, Simple Booking, Beddy, Bedzzle) enabling seamless payment processing within hotel operations, from booking through check-out, with automatic reconciliation to the PMS.
• Zucchetti ERP Systems (AGO, Gestionale 1, Gestionale 2, Mago4, Ad Hoc Infinity, Tieni il Conto)coreTechnology or IntegrationNative integration with Zucchetti ERP products enabling automatic bank feed reconciliation, payment-to-invoice matching, and payment data flowing directly into accounting workflows without third-party middleware or CBI file imports.
• 386 Italian Banks and Financial Institutions (AISP Network)coreTechnology or IntegrationPSD2-compliant connectivity to 386 Italian banks and financial institutions, including major banks (Intesa Sanpaolo, UniCredit, BPER, Banco BPM, BNL, Monte dei Paschi di Siena, Credit Agricole, Mediolanum) and hundreds of cooperative banks (BCC/Cassa Rurale). Enables multi-bank account aggregation for AISP reconciliation service.
• Banca d'ItaliacoreOthersBanca d'Italia is the regulatory authority that authorized ZPAY as a Payment Institution (IP) under number 109, with ongoing supervisory oversight. ZPAY adheres to ABF (Arbitro Bancario e Finanziario) dispute resolution system.
• ZTravel Smart (Zucchetti)coreTechnology or IntegrationZPAY serves as the financial backbone for ZTravel Smart, Zucchetti's expense management and travel application. ZPAY virtual cards are issued within ZTravel, with every transaction automatically appearing in the employee's expense report, enabling companies to close the expense cycle without paper receipts.
• Card Networks (Visa, Mastercard, American Express, V Pay, Maestro)coreTechnology or IntegrationZPAY processes card payments across major networks including Visa, Mastercard, American Express, V Pay, and Maestro, enabling merchants to accept a wide range of card types across domestic, European, and international transactions.

Scale indicators4 records

Recent moves6 records

Expansion highlights6 records

Broad incumbents

• Stripe: Global payment processor and payment-orchestration platform. While not Italy-specialized, Stripe competes with ZPAY's e-commerce checkout and Pay by Link offerings on developer experience and cross-border merchant appeal for Italian online businesses.
• Adyen: Global unified commerce payment platform serving enterprise merchants with POS, e-commerce, and platform-based acquiring. Overlaps with ZPAY's enterprise e-commerce and omnichannel offering, particularly for larger Italian merchants.

Direct peers

• Banca Sella: Authorized Italian payment institution offering acquiring, POS, e-commerce, and business banking via its Hype and Sella platforms. Closely comparable to ZPAY as a multi-product Italian payment institution serving SMBs, with a similar vertical mix.
• Nexi: Italy's largest incumbent payment institution and card acquirer. Nexi offers acquiring, payment acceptance, and merchant services across the same verticals (retail, hospitality, restaurants) and competes head-on with ZPAY for Italian SMB merchants, with substantially larger scale and brand.
• Satispay: Italian mobile payment network with a strong merchant-acquiring footprint in retail, restaurants, and professional services. Competes directly with ZPAY SoftPOS and ZPOS in-person acceptance and on merchant fees, with significant brand recognition among Italian consumers and merchants.
• Tink: European open banking platform (Visa-owned) providing AISP/PISP account aggregation and payment initiation APIs across multiple European countries. Directly comparable to ZPAY's Riconciliazione AISP and PISP services at the API infrastructure layer.
• SumUp: European POS and payment acceptance provider with strong Italian SMB penetration via SumUp Air and Solo terminals. Competes with ZPAY SoftPOS and ZPOS at the small-merchant level on hardware and per-transaction pricing.
• Fabrick: Italian open banking and B2B fintech infrastructure platform offering PSD2 AISP/PISP services, account aggregation, and payment orchestration. Highly comparable to ZPAY's Servizi Finanziari pillar and the closest direct peer in Italian Open Banking infrastructure.
• TeamSystem: Major Italian ERP/accounting software competitor to Zucchetti with its own payment and financial services integrations. Indirect peer via the Zucchetti competitive context — represents the alternative ERP ecosystem that ZPAY is not natively embedded in, defining a structural boundary on ZPAY's addressable market.

Emerging players

• Qonto: European SMB business banking and expense management platform, strong in France, Italy, Germany, and Spain. Comparable to ZPAY Conti e Carte as a digital business account + cards + accounting integration play targeting SMBs and freelancers.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat6 records

Key risks5 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/zpay-srl

Compliance6 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about ZPAY