Danish challenger bank Lunar Way has partnered with Nets to deliver payment solutions for all its users.

With this partnership, the lender aims to improve its payment services in Sweden, Denmark and Norway.

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Apart from assisting Lunar Way in developing payment solutions, Nets will also enable the bank to support card fraud management as well as provide electronic signature services.

Lunar Way CEO Peter Smith said: “Nets is a leader in the payments space, both in Denmark and abroad. Together, we will look at the development of new, innovative payment solutions that fit our users’ lifestyles and needs.

“We look forward to offering the users the stability that Nets is known for and utilising Nets’ expertise in fraud monitoring and prevention as we build our new bank.”

Established in 2015, Lunar Way offers basic banking services to its customers through an app. Last month, the company raised €26m ($28.9m) in a funding round led by SEED Capital.

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Nets head of Financial and Network Services Thomas Jul said: “It is not every day that you enter into collaboration with a brand-new bank – and especially the kind of bank that Lunar Way is developing.

“New and different solutions are needed, while ensuring stability and security to ensure a great user experience for all Lunar Way customers.”

Headquartered in Denmark, Nets is a payment service provider that focuses on the Nordic region. Last month, Mastercard signed an agreement to acquire some of its businesses for €2.85bn ($3.19bn).