Through this move, Nets is set to process BluOr Bank’s customers' card transactions, in turn planning to deliver increased security when conducting transactions and withdrawing funds. Additionally, the company plans to support the connection between BluOr Bank and its card production bureau, seeking to deliver a simplified and optimal process for issuing payment cards, including credit and commercial cards for entrepreneurs and businesses.
By leveraging Nets’ supportive services, BluOr Bank aims to ensure that it can provide scaled levels of customer service. As part of the agreement, the Latvia-based bank is set to utilise Nets’ fraud monitoring solution, as well as its 3-D Secure (EVM 3DS) protocol, assisted by its Access Control Server system, for authenticating ecommerce card transactions. Also, BluOr Bank will employ Nets’ call centre support for off-hours card closing activities.
Furthermore, commenting on the news, representatives from Nets underlined that, with its regional footprint in the Baltic region and local knowledge, their company has been able to personalise its issuer proposition to suit BluOr Bank’s regional payment preferences of its customers. Additionally, the bank mentioned that partnering with Nets enables it to increase the efficiency and security of its card services, in turn ensuring an augmented experience for its users. BluOr Bank seeks to use Nets’ capabilities in transaction processing and fraud prevention to offer financial solutions that meet the needs, demands, and preferences of its clients.
The agreement with BluOr Bank comes just two months after Eurowag teamed up with Visa and Nets to roll out an open-loop, secure, and contactless pre-paid payment card for fleet management. The Eurowag Visa card came as a replacement to the previous Eurowag Mastercard and intended to complement the company’s existing closed-loop fuel offering, allowing customers to leverage their cards at any fuel station in Europe. At that time, the new card was available for use, as Nets remained the supplier of cards for Eurowag.
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