The rapidly growing Finnish savings bank, OmaSp, has chosen Nets to enable mobile payments for its customers.
Initially OmaSp will offer Google Pay for Visa Credit cardholders, with debit cards on the roadmap for 2020.
By partnering with Nets, banks can offer their customers the freedom to choose their preferred payment method.
Pasi Sydänlammi, CEO of OmaSp, says: “We can now offer a modern, mobile method of payment. It’s important to us that our customers can decide which payment method suits them best: card, cash or smartphone. We want to make our customers’ everyday lives easier and offer new, easy and safe digital payment methods alongside traditional ones. Our close cooperation with Nets, one of Europe’s leading payment service providers, ensures that we can bring the most innovative payment methods to our customers quickly.”
Nets’ LCM services simplify mobile payments for issuers by using one simple API that supports multiple card schemes and services, and managing all compliance elements.
The partnership brings significant operational and strategic advantages to OmaSp. The savings bank secures operational efficiencies, as internal resource spent on compliance, generic maintenance and scheme updates is minimised. This enables the bank to redirect its internal resources towards value-creation and core services.
Sirpa Nordlund, Country Director of Nets in Finland, comments: “Providing easier products and solutions to banks and their customers is at the core of Nets. As such, we are investing heavily in new, innovative payment methods, with security and stability always a priority. We are happy to be able to provide a streamlined service offering, which enables OmaSp to answer customer demand in a world where different payment methods are increasing in variety and popularity like never before.”
Nets’ LCM includes multiple services and can support all current ‘xPay’ services, including Google Pay, Apple Pay and Fitbit Pay. The product has been designed to evolve over time to include future payment methods, effectively future-proofing issuers against changing consumer usage of different payment form factors. All development is carried out by Nets and issuers can benefit from this through the APIs.