Bigbank teams up with Nets for issuer processing and digital services
Bigbank which is an Estonia based digital bank has teamed up with Copenhagen-based financial technology company, Nets to provide issuer processing and digital services, including virtual cards and mobile payment capabilities to its private and corporate customers.
According to the press note, Nets will support Bigbank’s core offering by delivering issuer processing and digital services through its modular-based platform. Under this, it will include tokenization with access to Apple Pay and Google Pay and instant issuing with virtual cards and digital PIN. The company will also provide the bank with card personalization, customer support and fraud and dispute services.
In 2020, the company partnered with Yoba Smart Money for an SME payment solution.
Last year, Nets was acquired by Nexi, Italy based payments company and the deal was approved by European Commission in March 2021. Nets works to provide Issuer & eSecurity Services for more than 250 issuers of payment cards and banks in Europe and Consumer Management Services and Fraud & Dispute Services. The company also works by providing merchant customers with payment acceptance solutions across channels. According to its website, the company works with more than 700,000 merchant outlets, including 140,000 online merchant outlets and over 250 banks across Europe.
Bigbank is a licensed institution working in Estonia, Latvia, Lithuania, Finland, Sweden and Bulgaria. The bank also works in providing cross-border deposit services in Germany, the Netherlands and Austria.