PayAlly chooses Nets Group for issuer and acquirer processing in the UK

By Joy Dumasia

PayAlly, and Nets Group, one of Europe’s leading PayTechs, have entered into full issuing and acquiring processing services in the United Kingdom. Nets will deliver a full issuing services product suite, starting with a Card Management System based on the modular platform developed by TUUM and tokenisation and access to Nets’ XPay Card Service. Nets will also deliver issuing and acquiring payment authorisation and clearing, dispute management, fraud prevention and customer services.

Rafal Andzejevski, CEO of PayAlly, said: “PayAlly aims to provide client-orientated payment services, with truly innovative, safety-focused instant solutions that meet customers’ financial needs. We are excited by our partnership with Nets, which enables us to provide a range of additional digital services within fast fund transfers. This will allow us to keep operational costs low while focusing on delivering strong security and reliability.”

Henrik Anker Jørgensen, CEO of Nets Estonia AS and Head of the Baltic region in Nets, added: “We are very excited to continue our growth strategy of supporting European FinTech challengers, and we are happy to welcome PayAlly as both an issuing and acquiring customer. This aligns with our commitment to supporting the evolving demands of European consumers as digital services continue to proliferate.”

PayAlly Limited was established in 2017. It provides payment services via its payments ecosystem, comprising local, regional, and international payments, payment accounts, internet payment platforms, foreign exchange possibilities, prepaid MC cards, multicurrency processing.

Recently, IBS Intelligence reported that Danske Bank, the leading bank in Denmark, brought the Danish domestic payment scheme, Dankort, to Apple Pay. This will enable Danske Bank customers to use their co-badged Visa/Dankort card in physical stores or online via Apple Pay.