The extended partnership will see Nets continue to deliver full acquiring services for LHV in Estonia, including terminal rental, payment authorisations and clearing, e-commerce capabilities, dispute management and fraud prevention. In the UK, Nets will support LHV with issuing services including CMS systems, issuer processing, tokenisation services, fraud prevention with AI, dispute and chargeback services, customer service and cards personalisation.
"LHV Bank aims to provide vendors and customers with truly innovative, tech-focused solutions to their financial needs," said Andres Kitter, Member of the Management Board of LHV Bank. "We are looking forward to further extending our partnership with Nets in both Estonia and in the UK, enabling us to provide a range of additional digital services to our customers."
Henrik Anker Jørgensen, CEO of Nets Estonia AS & Head of Baltic region in Nets, added, "We are pleased to extend our partnership with LHV Bank and for their continued trust in Nets, helping to enable financial services for nearly 300,000 customers. LHV inspires us to innovate and continue providing capabilities that meet their specific needs and we look forward to developing the partnership further in the future."
The long-term agreement has already entered into force.
LHV Group is the largest domestic financial group and capital provider in Estonia. LHV Group's key subsidiaries are LHV Pank, LHV Varahaldus, and LHV Kindlustus. LHV employs over 590 people. LHV's banking services are used by 282,000 clients, the pension funds managed by LHV have 174,000 active clients, and LHV Kindlustus protects a total of 129,000 clients. LHV's UK branch offers banking infrastructure to 150 international financial services companies, via which LHV's payment services reach clients around the world.
Read more about LHV on LHV
Believing in simplicity and security as the foundation for growth and progress, Nets powers payment solutions for an easier tomorrow for banks, businesses and consumers across Europe. Nets is a part of Nexi Group - a leading European PayTech. For more information please see: www.nexigroup.com