Denmark-based payments group Nets has entered into a new five-year agreement with domestic card and payment company BOKIS.

The partnership will enable BOKIS member banks to continue the issuance and processing of the Dankort card. The new agreement will be effective from January next year.

BOKIS represents Sydbank, Arbejdernes Landsbank, Nykredit Bank and Spar Nord Bank. Also, the company represents 53 local, savings and cooperative banks in Denmark, the Faroe Islands and Greenland.

These banks are said to constitute nearly 45% of the payment card market in Denmark.

BOKIS CEO of National Banks Søren Nicolaisen said: “We are pleased that our ongoing collaboration with Nets is delivering a very competitive agreement for small and mid-sized payment institutions.

“The payments market is developing rapidly, and it is hard to make predictions about the future, but our starting point is that we must offer consumers their preferred payment solutions.”

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

In addition to the domestic Dankort card, Nets and BOKIS extended their processing agreement for international payment cards by another three years.

The agreement for international cards also covers fraud management and dispute services.

Nets group CEO Bo Nilsson said: “With this continued collaboration, we have a solid platform for offering new, innovative solutions that will benefit the customers of the BOKIS banks.”

In August this year, Nets agreed to divest some of its businesses to Mastercard. The deal includes clearing and instant payment services and e-billing solutions under Nets’ Corporate Services business.