myTU is a licensed family, traveller and travel partner-focused e-money institution, offering daily banking, payment and loyalty solutions for private consumers and businesses. Its offer includes personal accounts for parents and children above the age of seven, enabling automated daily allowances, instant money transfers, and real-time monitoring through its modern mobile banking app. It also provides unique value-add services via its marketplace.
myTU operates and focuses across the European Union and European Economic Area. Nets will support myTU with issuing services, issuer processing, tokenisation services, fraud prevention, dispute and chargeback services, customer service and cards personalisation.
"Our mission is to change the existing rules of banking and shape new ones," said Raman Korneu, CEO and Co-founder of myTU. "All our products are efficient, cost-saving and convenient for the client, and together we are creating high-tech mobile and internet banking that brings family finances into the digital age. Nets provides benefits of scale and international reach that will be invaluable as we grow our digital services offering across Europe."
Henrik Anker Jørgensen, CEO of Nets Estonia AS and Head of Baltic region in Nets, added, "We are very excited to be working with myTU as it brings its mobile and internet banking offer to wider audiences. Its customers are literally going places, and we at Nets want to be there with them, enabling this growth journey across markets."
The long-term agreement has already entered into force.
myTU digital banking app has one of the fastest customer onboarding procedures in the financial services industry and is available to download on Android and iOS. Vilnius-based myTU, legal name Travel Union UAB, is a fintech startup, digital banking platform and payments solution. www.myTU.co
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