The rapidly growing Finnish savings bank, OmaSp, has chosen Nets as their partner in enabling mobile payments. At first stage, OmaSp will be offering Google Pay for their Visa Credit cardholders and will broaden the offering to debit and electron cards at a later stage.
Through cooperation with Nets, banks are able to offer customers the freedom to choose their own preferred payment method.
Pasi Sydänlammi, CEO of OmaSp, said: "We can now offer a modern, mobile method of paying. It's important to us, that our customers can decide, which payment method suits them best: card, cash or phone. We want to make our customers' everyday life easier and offer new, easy and safe digital payment methods together with traditional ones. Our close cooperation with Nets, the leading Nordic payment service provider ensures, that we are able to bring the most innovative and interesting payment methods to our customers".
Nets' LCM service simplifies enablement of mobile payments for the card issuers. Nets offers one simple interface (API) for the issuer, which supports multiple card schemes and services. Nets also manages the compliance elements of the project.
OmaSp's direct benefit is reduced compliance work and less time spent on generic maintenance and scheme updates, allowing the bank to free their own IT-resources for other value creation tasks.
Sirpa Nordlund, Country Director of Nets in Finland said: "Providing easier products and solutions is at the core of Nets. Therefore we are investing heavily in new, innovative payment methods, with security and stability always as a priority. We are happy to be able to provide a streamlined service offering, which also enables OmaSp to answer customer demand in a world where payment methods are growing in numbers like never before".
Nets' LCM service includes multiple services and can support all current so called xPay-services, including Google Pay, Apple Pay and Fitbit Pay. The LCM service is designed to evolve over time to include future payment methods as well. The development is carried out by Nets and issuers can benefit from this through the API's.
At Nets, we see easier payment solutions as the foundation for growth and progress – both in commerce and society. The Nets Group, which employs 3,500 people and now includes German Concardis and Polish Dotpay/eCard, helps hundreds of financial institutions, and hundreds of thousands of businesses and merchants in Europe make tomorrow a little easier for their customers while delivering unrivalled security and stability. Powering a tomorrow that's easier than today. This is what drives us.
Oma Savings Bank Plc
OmaSp is a Finnish retail bank and Finland's largest savings bank. We serve over 135,000 customers with over 270 experts across 40 branches and through extensive digital service channels all over Finland. OmaSp is a financially sound bank with some of the best profitability levels in the industry. The balance sheet is over 2.8 billion euros. Our goal is to offer the best banking service in town for all daily financial matters both via branches and digital service channels.