View all newsletters
Receive our newsletter - data, insights and analysis delivered to you
  1. News
March 19, 2021

Lithuania’s Cardinity taps Nets to expand international reach

Lithuanian online payment service provider Cardinity has turned to Ne​ts for offering international acquirer processing services.

The partnership will Denmark-based Nets will also help the Lithuanian firm offer fraud and dispute services.

Nets Estonia AS & Head of Baltic region CEO Henrik Anker Jørgensen said: “Our modular and flexible processing platform enables us to tailor our offer to meet the needs of individual customers like Cardinity, while also helping them benefit from our scale and international reach.”

Cardinity, formed in 2007, serves as a payment gateway and licensed acquirer. It offers payment services to merchants across Europe.

Regulated by the Central Bank of Lithuania, the Vilnius-based firm acts as an payment gateway and acquirer in over 31 markets.

The alliance with Nets is said to help the firm expand its international presence.

Cardinity CEO Egidijus Andreika said, “Nets is a leading European payment service provider with a broad suite of services and a scalable set-up. As such, they are the ideal partner to help us provide our growing European customer base with a stable and secure payment solution that enhances their digital experience.”

The deal comes shortly after the acquisition of the majority of the Corporate Services business of Nets by Matercard, which is said to support account-to-account capabilities.

It includes clearing and settlement instant payment infrastructure, bill payment as well as E-invoicing applications.

Meanwhile, recently, the European Commission (EC) cleared Italian payments processor Nexi’s $9.28bn bid to buy Nets.

EC said that the proposed deal would not raise any competition concerns given the limited horizontal overlap between the companies’ activities. It further noted that the limited vertical effects arising from the merger of the activities of the companies would not compromise competition.

 

NEWSLETTER Sign up Tick the boxes of the newsletters you would like to receive. A weekly roundup of the latest news and analysis, sent every Wednesday.
I consent to GlobalData UK Limited collecting my details provided via this form in accordance with the Privacy Policy
SUBSCRIBED

THANK YOU

Thank you for subscribing to Electronic Payments International