Nets Group
| Traded as | Nets A/S |
|---|---|
| Founded | 2010 |
| Headquarters | Ballerup, Denmark |
Key people |
Inge K. Hansen (Chairman) Bo Nilsson (CEO) |
Number of employees | 2454 (2016)[1] |
| Website | https://www.nets.eu/ |
Nets Group or Nets is a Nordic-based payment service provider. The company has been known as Nets since 2010, but has a history that goes back to 1968. Nets have more than 2400 employees working in five countries. The head quarter is located in Copenhagen, but the company also has sites in Oslo, Stockholm, Helsinki and Tallinn. The customers of Nets are banks, businesses, merchants and the public sector.
Business segments
Reflecting that Nets has customers from all corners of society, they provide a choice of services covered by three main business segments: Corporate services, Merchants services, and Financial & Network Services.
Merchant Services
Merchant Services provides Nets' merchant customers with payment acceptance solutions across channels (in-store, online and mobile) and with the broadest range of payment methods in the Nordic region, including Visa, MasterCard, JCB, and local payment brands. Merchant Services is present across Nordic and Baltic countries and works with a broad set of value-adding partners across the region.
Merchant Services manages and simplifies merchants' payments flow. The company enables merchants to accept payments, easily and without friction regardless of channels, receive the settlement and get detailed reconciliation information and statistics, all in different currencies and frequencies depending on merchant needs and consumer preferences.
Financial & Network Services
Financial & Network Services provides processing services for issuers of payment cards, primarily banks, in the Nordic region as well as complementary services, including Consumer Management Services (CMS), Fraud & Dispute solutions, and Mobile Services.
This business segment also operates and processes the national debit card systems in Denmark and Norway, respectively Dankort and BankAxept. These schemes have been instrumental in the establishment of a modern Nordic electronic card payment infrastructure, currently processing over 7.7 billion card transactions a year within issuing and acquiring.
Corporate Services
Corporate Services offers integrated e-bill services to corporates, enabling them to invoice their customers electronically and automatically receive payments at due time, with the benefit of low churn. Consumers are provided with an overview of the invoices paid directly from their online bank. More than 90% of Danish households use the direct debit service to pay utility bills and other bills. Corporate Services also offers national e-identity solutions, NemID in Denmark and BankID in Norway, used by 95% of Danes and 80% of Norwegians respectively.
Product portfolio
Avtalegiro
Invoice service operated by Nets on behalf of the Norwegian banking sector.
BankAxept
National Norwegian payment system for both physical and digital transactions, owned by Norwegian banks as an open national scheme.
BankID
Digital national identity scheme offered in Norway, which enables private entities to sign agreements with authorities, banks and organisations online. Used by 80% of Norwegians.[1]
Betalingsservice
A direct debit solution offered by Nets to Danish corporates and their customers. Used by 90+ % of the Danish household to pay utility bills and other bills.
Dankort
The Danish national debit card launched in 1983.
- Contactless Dankort: Credit card with contactless technology, which speeds up the transaction, while maintaining the high level of security.
- Mobile Dankort: Mobile-based payment method for Dankort-holders.
DIBS
An online payment service provider established in 1998 with a track record of more than 2 billion online transactions in 2016.
E-Boks
A digital mailbox for private individuals and companies developed and partly owned by Nets for filing important mail in one secure place. Accessible from computer, tablet and mobile.
eFaktura
Nets' Norwegian e-billing service.
NemID
Digital national identity scheme offered in Denmark, which enables as well private entities as companies to sign agreements with authorities, banks and organisations online. Used by 95% Danes.[1].
Storebox
The largest Nordic vendor of digital receipt solutions with 35,000+ signed up shops. Acquired by Nets in 2015.
History
The establishment: 1968-2009
- In 1968, PBS is established in Denmark.
- In 1972, BBS is established in Norway.
- in 1974, Betalingsservice is launched in Denmark.
- In 1983, Dankort is launched in Denmark.
- In 1991, BankAxept is launched in Norway.
- In 1994, AvtaleGiro is launched in Norway.
- In 2005, Ingenico’s Nordic business is acquired.
- In 2006, acquisition of a stake of 50 percent in e-Boks shares.
The consolidation: 2010-2013
- In 2010, Nets is created as a merger between PBS and Nordito (previously Teller and BBS).
- In 2010, NemID is launched as the common digital signature in Denmark.
- In 2012, e-Boks is launched in Norway.
- In 2012, Nets strengthens its presence in Finland by acquiring Luottokunta.
- In 2012, NemID is launched as the digital signature for companies in Denmark.
The transformation: 2014-2016
- In 2014, Nets is acquired by Advent International, Capital Private and ATP.
- In 2014, Nets strengthens its digital division by acquiring EDIgard in Norway.
- In 2014, Nets strengthens its business segment Merchant Services by acquiring DIBS and Payzone in Sweden and Paytrail in Finland.
- In 2015, eBoks is launched in Sweden.
- In 2015, Nets also becomes the majority shareholder in Signaturgruppen.
- In 2015, the contactless Dankort is launched.
- In 2015, Nets strengthens its presence in Sweden by acquiring Nordea’s acquiring business.
- In 2015, Nets acquires Storebox in Denmark.
- In 2016, Nets launches more than 15 new products, amongst others an app for Betalingsservice and the first digital wallet in Norway.
- On 23 September 2016, Nets is listed on Nasdaq Copenhagen.