By Pietro Lombardi

Intesa Sanpaolo SpA (ISP.MI) said Wednesday it has invested 7 million euros ($7.7 million) in MatiPay, an Italian fintech startup.

Intesa said the company, which has developed a new payment system allowing cash purchases using vending machine networks, will use the money to speed up its growth in international markets, including Europe, Japan and the U.S.

Write to Pietro Lombardi at pietro.lombardi@dowjones.com

(END) Dow Jones Newswires

October 09, 2019 09:09 ET (13:09 GMT)

Copyright (c) 2019 Dow Jones & Company, Inc.
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