The agreement with Nordea covers more than 100,000 merchants with more than 425 million transactions a year.
The main aspect of the agreement is card acquiring, which includes processing and related services. The agreement includes the development, implementation and migration of Nordea's card acquiring for Sweden and Norway as well as taking over Nordea's systems and work processes in the run-up to migration of Nordea's data to CAPS, which is Nets' Card Acquiring Processing System for handling merchant agreements in connection with card acquiring.
As far as Nets' Group Executive Vice President Susanne Brønnum is concerned, the agreement is a natural extension of Nets' strategy to be a leading northern European supplier of payment, card and information solutions.
"We are pleased and proud of the agreement with Nordea. International customers want a single supplier who can handle payments in all the markets in which they operate, and Nets is able to deliver competitive, custom solutions and services here. The agreement with the largest Nordic bank, Nordea, consolidates Nets' strategic foundation as the preferred payment card processor for Nordic banks," Susanne Brønnum comments.