Copenhagen, Denmark. 22 June 2023.
Nets, part of
Nexi, the European PayTech, has announced a partnership with Cypriot fintech,
OROPAY, to provide a full suite of issuer payment services to help deliver payments for business customers in Cyprus and Baltic states. Nets' European footprint and local knowledge will also support the fintech, which is regulated by the Central Bank of Cyprus as an Electronic Money Institution, with its ambitious pan-European growth plans.
OROPAY offers a convenient and secure way for individuals to pay for products and services, understands the needs of corporate customers and provides merchants with a seamless and cost effective alternative. Its intuitive and user-friendly payment account solution aims to help businesses and consumers conduct their transactions in a more convenient manner.
Nets will provide OROPAY with a card management system, supported by lifecycle management, issuer processing, instant issuing – via Virtual Cards and Digital PIN, and mobile payments, including via Google Pay and Apple Pay. Nets will also provide the fintech with a suite of fraud management services, including tokenisation, dispute and chargeback risk management, anti-fraud technologies such as EMV® 3-D Secure, and contact centre support.
George Christofides, Member of the Board at OROPAY, said: “We are thrilled to partner with the European PayTech leader to help us provide unique services to unique business customers across Cyprus and the Baltics. Nets shares our commitment to cultivating an innovative payment culture, which will enable us to deliver the latest payment features for our users as we look to expand across Europe, solving everyday payment tasks and simplifying transactions."
Henrik Anker Jørgensen, CEO of Nets Estonia AS and Head of Baltic Region at Nets added: “As digital payments continue to grow, the ability to provide both business and consumer customers with a range of convenient and secure payment options will be integral to success. Nets is delighted to support OROPAY's targeted growth strategy with business customers, delivering end-to-end payment technologies that meet local needs while benefitting from decades of experience at European level."
Nexi is Europe's PayTech company operating in high‐growth, attractive European markets and technologically advanced countries. Listed on Euronext Milan, Nexi has the scale, geographic reach and abilities to drive the transition to a cashless Europe. With its portfolio of innovative products, e‐commerce expertise and industry‐specific solutions, Nexi provides flexible support for the digital economy and the entire payment ecosystem globally, across a broad range of different payment channels and methods. Nexi's technological platform and the best‐in‐class professional skills in the sector enable the company to operate at its best in three market segments: Merchant Solutions, Issuing Solutions and Digital Banking Solutions. Nexi constantly invests in technology and innovation, focusing on two fundamental principles: meeting, together with its partner banks, customer needs and creating new business opportunities for them. Nexi is committed to supporting people and businesses of all sizes, transforming the way people pay and businesses accept payments. It offers companies the most innovative and reliable solutions to better serve their customers and expand. By simplifying payments and enabling people and businesses to build closer relationships and grow together, Nexi promotes progress to benefit everyone.
OROPAY provides a convenient and secure way for individuals to pay for products & services, and provides merchants with a seamless and cost effective alternative. We are a FinTech company with an expanding range of services. Our wallet solution is an intuitive and user friendly payment experience for both the Consumer and the Merchant. Founded in Cyprus, we are regulated by the Central Bank of Cyprus as an Electronic Money Institution, and aim to help businesses and consumers conduct their transactions in a more convenient manner.