Baltic consumers and merchants are about to experience a major upgrade in the consumer experience, when paying with cards.
Card payments are already known to be the most convenient method of payment, when consumers are shopping. The safety of the card regulation makes card payments also one of the safest methods of payments, where clear rules are enforced across the world to ensure the trust of the cardholder and the merchant.
LHV and Nets have just made this solution more than twice as fast, with the launch of contactless issued cards and contactless enabled terminals from LHV across the Baltic countries.
"In cooperation with Nets, our aim is to provide vendors with a faster acquiring service and more modern technology at competitive prices," says CEO of AS LHV Pank Erki Kilu.
The contactless payment infrastructure changes fast, and a majority of the POS terminals provided by Nets across the Baltic countries already are enabled to receive contactless payments. Only a fast software upgrade will make these POS terminals able to accept contactless payments.
Every day Nets is upgrading the software of many terminals, benefitting the merchants with faster payments and thereby better customer experiences, as well as to the convenience of the consumers who will experience less waiting time when paying at the supermarket or kiosk.
"Less than 2 years ago LHV started as a payment card acquirer in Estonia, and already now they have made a significant impression. With the constant strive for innovation LHV is a pleasure to work with, as we together develop new innovative solutions and hereby changing the status quo of digital payments," says Head of Baltic region in Nets Henrik Anker Jørgensen.
LHV Group is the largest domestic financial group and capital provider in Estonia. AS LHV Group's key subsidiaries are AS LHV Pank and AS LHV Varahaldus. LHV has a representative office in Tallinn, Tartu and Vilnius. LHV employs over 250 people. LHV's banking services have over 100,000 customers. Pension funds managed by LHV have over 170,000 customers.
At Nets, we specialise in powering digital payments. We connect banks, businesses and consumers via an international network facilitating digital payments. Spanning across the Nordic region and the Baltic states, we provide a broad range of card services, account payment services and merchant payment solutions. We offer great payments, great ideas, great network - delivered by great people. Read more at www.nets.eu.
For further information, please contact:
Raivo Tinn, Country Senior Executive in Nets Estonia AS,
Ph:+372 671 1423
Henrik Anker Jørgensen, Head of Baltic region in Nets
Ph:+45 2948 23 58
Priit Rum, Communication Manager in LHV Pank
Ph:+372 502 0786