German lender Degussa Bank has entered into a collaboration with Nets for a comprehensive suite of digital card services.
As agreed, the two entities will work together to create a consumer credit card offering in Germany.
Additionally, Nets will help Degussa Bank with Apple Pay and Google Pay integrations and virtual cards using its processing services.
The scope of the agreement also includes German-language contact centre services to offer round the clock support with complex queries.
The new features are expected to benefit Degussa Bank customers starting first quarter of next year.
Degussa Bank Card Operations head Jessica Hofmann said: “We have an ambitious growth strategy and our goal is to be the digital leader in Germany.
“In order to execute on the strategy, we required an experienced technology expert with the latest know-how and capabilities. We see Nets as a great innovation partner with high engagement and modern, flexible solutions.
“Nets has a strong track record in the Nordics, which are highly digitised societies, and we truly feel that they are the best partner to help us create the best possible card product in Germany.”
Nets Issuer and eSecurity Services CEO Torsten Hagen Jørgensen said: “We are excited to join Degussa Bank on its ambitious journey to wider adoption of digital card services in Germany.
“This is a perfect example of our commitment to provide innovative, best-in-class modular issuing services that enable faster time-to-market and scale. This will enable Degussa to deliver modern, digital payment experiences to customers across Germany.”
Degussa Bank AG is the holding company of a group of companies which focus on providing financial services for employees.
The group has more than one million customers.