Danish banking collective BOKIS has renewed its existing agreement with digital payments firm Nets to include additional handling services for international payment cards.
Originally signed in 2014, the agreement has been now extended until 2020.
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Under the terms of the upgraded deal, Nets will enable international payment card transactions for BOKIS. The firm will also provide fraud prevention services, including Smart Block and Consumer Protection.
BOKIS expects that the expanded alliance will enable better terms and lower overall costs for its member banks.
BOKIS director of local banks Jan Kondrup said: “In recent years, together with Nets, we have developed new digital solutions that provide better customer service while reducing costs for banks, for example in cardholder disputes. To continue this, we have decided to renew the existing agreement for three more years.”
In June 2016, the partners launched a new NFC mobile wallet solution backed by Nets’ HCE and tokenisation platform to ensure secure transactions.
Nets head of financial & network services Thomas Jul said: “It should be easy for banks to offer simple and intuitive customer solutions in a payment market that is becoming more and more complex.
“We are pleased to be extending our partnership with the banks in the BOKIS association, thus giving us the opportunity to continue our joint development of new solutions that make everyday business easier for cardholders.”
