myTU chooses Nets for issuer services and digital payments

By Joy Dumasia

myTU, from UAB Travel Union, has chosen European payments leader Nets to provide issuer processing and digital services, including cards and mobile payment capabilities, including Apple Pay and Google Pay, for its customers.  

myTU is a licensed family, traveller and travel partner-focused e-money institution offering daily banking, payment and loyalty solutions for private consumers and businesses. Its offer includes personal accounts for parents and children above the age of seven, enabling automated daily allowances, instant money transfers, and real-time monitoring through its modern mobile banking app. It also provides unique value-add services via its marketplace.   

myTU operates and focuses across the European Union and European Economic Area. Nets will support myTU with issuing services, issuer processing, tokenisation services, fraud prevention, dispute and chargeback services, customer service and cards personalisation.  

Raman Korneu, CEO and Co-founder of myTU, said: “Our mission is to change the existing rules of banking and shape new ones. All our products are efficient, cost-saving and convenient for the client, and together we are creating high-tech mobile and internet banking that brings family finances into the digital age. Nets provides benefits of scale and international reach that will be invaluable as we grow our digital services offering across Europe.”   

Henrik Anker Jørgensen, CEO of Nets Estonia AS and Head of Baltic region in Nets, added, “We are very excited to be working with myTU as it brings its mobile and internet banking offer to wider audiences. Its customers are literally going places, and we at Nets want to be there with them, enabling this growth journey across markets.”