Nets to boost fraud and dispute services for Lithuania-based Cardinity

By Megha Bhattacharya

Lithuanian online payment service provider Cardinity today announced that it has selected Nets for providing international acquirer processing, and fraud and dispute services. Cardinity offers payment services to merchants across Europe and aims to leverage the collaboration with Nets to expand its international footprint.

Egidijus Andreika, CEO of Cardinity, said, “Nets is a leading European payment service provider with a broad suite of services and a scalable set-up. As such, they are the ideal partner to help us provide our growing European customer base with a stable and secure payment solution that enhances their digital experience.”

Formed in 2007 and headquartered in Vilnius, Cardinity is licensed as a payment institution regulated by the Central bank of Lithuania. The company aims to deliver a safe and cost-effective online payment solution for e-commerce businesses selling various products or providing services. They provide their services as payment gateway and acquirer in over 31 markets.

Henrik Anker Jørgensen, CEO of Nets Estonia AS & Head of Baltic region, added, “We support a range of issuers, acquires and FinTechs across the Baltic region, most of them with European or even global growth ambitions. Our modular and flexible processing platform enables us to tailor our offer to meet the needs of individual customers like Cardinity, while also helping them benefit from our scale and international reach.”

Recently, Nets Group announced the completion of the sale of its account-to-account based services to Mastercard for €2.85 billion. The operations sold to Mastercard represented the majority of Nets’ Corporate Services division, comprising the clearing and instant payment services and e-billing solutions, including Betalingsservice in Denmark and AvtaleGiro/eFaktura in Norway.