Nets announces strategic partnership with open banking platform Fabrick

By Megha Bhattacharya

Payment solutions provider Nets announced a partnership with open banking platform Fabrick for facilitating the development of products, services and new ecosystem business opportunities in the Instant Payments space. The companies aim to create new solutions for delivering revenue streams for their new and existing clients.

Marco Casartelli, Deputy CEO of Fabrick, said, “This is a compelling initiative for Fabrick. Instant Payments is an integral part of the trend towards a cashless society and it is an important space for us to operate in. Working together, Fabrick and Nets have proven that we deliver quality solutions for our clients and I expect this partnership to build on that record.”

Recently, Nets announced that Luxembourg-based Yoba Smart Money has selected its payment and liquidity solution for SMEs. Nets will be providing a full-scale solution that incorporates a corporate credit and debit card solution. Yoba aims to offer SMEs a smarter way to pay their business costs through the convenience and speed of a credit card along with the provision of on-demand liquidity and cost management tools.

Paul Walvik-Joynt, SVP Payments International Business Development at Nets said, “Our partnership with Fabrick creates new opportunities to leverage the benefits from instant payments and realise the value of our new OmniBilling platform. Today, we provide instant payment processing across Europe, and further broadening our array of services, adding to Fabrick’s state-of-the-art wallet solution, will boost our efforts to digitise societies and provide an easier tomorrow for our customers.”