Nets Estonia AS was founded on 1993 by Estonian banks. First name was the Bank Card Center (Pankade Kaardikeskus) and it was created to provide technical support for Estonian card issuers and acquirers.
Today Nets Estonia is a part of Nets Group. More information on the parent company here. Administration and the data centers of the company are located in Tallinn. In 2014 Nets Estonia Latvia branch Ltd. was established to provide services and local support for the customers in Latvia and Lithuania.
Nets Estonia is a well established player in card payment market in Estonia. Over the past two years the company has successfully entered Latvia's and Lithuania's payment card markets and today our services are provided throughout the Baltic region already for a number of financial institutions, e.g. Nordea Bank, Danske Bank, LHV Bank and others.
In 2016 Nets Estonia successfully completed a pan-Baltic migration of Nordea bank's card acceptance portfolio to the Nets Estonia's single platform for the new player in the market - Teller, a company providing card acquiring services in Nordics and Baltics. The migration was effectively completed in 3 month period, during which hundreds of merchants and thousands of POS terminals (incl. online stores) were replaced and migrated to Nets Estonia platform.
Nets Estonia history in short:
1993 – started accepting MasterCard payments cards at payment terminals (POS).
1994 – started accepting Visa payment cards at payment terminals (POS acquisition), cross-usage of automated teller machines (ATM), cross-use, expansion of the network of payment terminals (POS) and the cross-usage of payment terminals (POS).
1996 – started accepting Diners cards at payment terminals (POS).
1997 - signed agreement with American Express card and developed the functionality to withdraw cash from ATM's for VISA and MasterCard cards. Started supporting the Issuing for VISA and Maestro cards.
1999 – started providing the VPN services to financial institutions.
2000 – started providing the first e-commerce solution offers. (Web POS).
2001 – started accepting VISA EMV cards at payment terminals (VISA EMV acquiring).
2003 – started accepting JCB cards. Started supporting the Issuing for VISA EMV cards, providing new services - mobile payments and pan-Baltic loyalty card system for Hydro-Texaco.
2004 – started accepting the MasterCard EMV cards at payment terminals, providing mobile P2P payments and new service - Cash Systems certification.
2005 - conversion of ECCF formatted messages into the IPM.
2007 - added Dual-site, PCI compliance, 3D-Secure, MasterCard EMV Issuing, AmEx Globe
2008 - Swedbank, SEB and Sampo Bank sold their shares in the Bank Card Centre to the NETS. Bank Card Center became part of the largest Nordic card processor.
2009 - parent companies PBS A / S and BBS AS merged.
2010 – name of company was changed from Bank Card Centre AS to Nets Estonia AS.
2010 – completed the transition to smartcard.
2010 - started the first cooperation project with Nets A/S – providing service for Statoil operations.
2011 - transition to the euro.
2013 - launched an electronic gift card offer.
2014 - opened a branch in Latvia.
2014 - Advent International, the ATP and Bain Capital acquired the parent company of the Nets Estonia.
2015 – new additional service for the merchants - Merchant Portal.
2016 – started supporting the Issuing of MasterCard Contactless cards.
Nets Estonia main advantage over its competitors is the ability to provide a single payment processing platform for card acceptance and issuing throughout the Baltics, as well as the ability to quickly and efficiently accomplish projects of high complexity.
Nets Estonia as a payment card transaction processor provides a wide range of services related to payment cards issuing and acceptance, but not only that. The range of services is constantly being updated to meet the current market requirements and expectations. We are constantly developing new solutions, incl. P2P, e-commerce and more.
Our payment solutions are fully PCI DSS compliant and support high transaction volumes for all major card schemes.
For more detailed information about the services offered and pricing, please, contact Nets Estonia AS country manager in Latvia and Lithuania.