Nikulipe launches payment method banklinq in the Baltics

Monday 23 August 2021 08:36 CET | News

Nikulipe, a fintech company operating in the Baltics, has launched banklinq, a region-tailored payment method able to connect global merchants to the Baltics market. 

More than 65% of Baltic shoppers have a preference for paying through online banking, which has become the dominant payment method in the region. However, only around 20% of them have a credit card – roughly 17% of Lithuanians and Latvians, and 29% of Estonians – bringing limitations to consumers in terms of shopping on international ecommerce platforms, as well as restricting market access for international merchants.

One way to address this issue is by offering a payment method, specifically tailored for the region, so  Nikulipe undertakes the issue that the Baltics are facing, by launching a new product. Banklinq will be the first local payment method to address regional complexities by combining the local know-how and global experience, helping international merchants become more familiar with and trusted by local shoppers, paving the way to access new user markets.

Built upon open banking and adhering to EU regulations, banklinq will offer a payment option that covers all relevant banks in the region, bringing the Baltic consumers to global merchants. One convenient API ensures market entry without being caught up in technicalities, as the local regulatory landscape, processing, collection, reconciliation, settlement, remittance, and other processes will be navigated by banklinq experts.

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Keywords: local payment method, account-to-account payment, bank transfer, payment methods
Categories: Payments & Commerce | Online Payments
Countries: Lithuania
This article is part of category

Payments & Commerce