Nets Group

Nets Holding A/S

Founded	2009
Headquarters	Ballerup, Denmark
Key people	Inge K. Hansen (Chairman) Bo Nilsson (CEO)
Number of employees	2698 (2014)^[1]
Website	Nets Group

Nets is a Nordic provider of payments, cards and information services. The company has been known as Nets since 2009, but has a history that goes back to 1968. Nets have more than 2000 employees working in five countries. The head office is located in Copenhagen. The local commercial centers are in Oslo, Stockholm, Helsinki and Tallinn. The customers of Nets are banks, businesses, merchants and the public sector.

Product portfolio

Betalingsservice
Dankort
NemID
Mobilpenge
eFaktura
Avtalegiro
Digital security systems
Acquiring of international payment cards

Business areas

Payment & Information Services handle local direct debit solutions. These are called Betalingsservice, AvtaleGiro and eFaktura and are an integral part of the Danish and Norwegian payment infrastructures.

The section Cards manage payment card solutions by offering issuers and acquirers secured front-end and back-end solutions. They are a large card issuing and acquiring partner for banks and non-banks in northern Europe. Cards is also a central part of the local payment infrastructure in Denmark and Norway, providing processing and service for the domestic card schemes Dankort and BankAxept.

E-security provides electronic document signing and service for international banks and enterprises to help them secure their e-mails, workstations, networks, applications and deploy employee ID cards for access control.

Merchant Solutions offers payment solutions for all types of businesses; from small shops, clubs and associations to national or Nordic chains. Their solutions are specified for each Nordic market and their products comply with the national and international security standards.

Teller handles the acquiring of national and international payment cards, primarily in the Nordic market. Teller also deal with merchant agreements for the most frequent used local as well as international cards such as Dankort, Visa, MasterCard, American Express, JCB and China UnionPay.

Expansion of NETS

NETS means Northern European Transaction Services. It is an organisation formed by the integration of various independent companies providing services at Denmark and Norway. Later the Finland also comes into Picture to strengthen its root in Finland.

History

1960-1970

The Danish banks were among the first in the world to develop and invest in electronic payment services in the 1960s. The result was PBS, which was established in 1968 and, in the following decades, played a central role in payment solutions and associated services on the Danish market.

1970-1980

In 1972, the two major Norwegian players in electronic payment services, Bankkort and Bankgirosentralen, merged into BBS to establish a strong position on the domestic market. In 1974 direct debit was introduced on the Danish market. The Teller company was established in 1977 under the name Visa Norge. Since then, the company has played an important part in establishing the Norwegian market for international payment cards.

1980-1990

In 1983, PBS introduced the national debit card, the Dankort.

1990-2000

In 1991 the Norwegian national debit card BankAxept was launched, that has become the most commonly used payment method in Norway.

2000-2009

Visa Norge added MasterCard to the product portfolio in 2003 and the company’s name was changed to Teller. In 2005 BBS expanded its activities on the Nordic market by acquiring Ingenico AB (Sweden), BBS Manison (Finland) and Sagem (Denmark).

Teller purchased the exclusive rights for acquiring American Express in 2006. The following year, Teller was taken over by Nordito AS.

BBS strengthened its position on the Danish market in 2007 with the acquisition of LD Betalingssystemer. Later in 2007 BBS was taken over by Nordito.

In 2009 Nets was formed, as Danish PBS Holding A/S and Norwegian Nordito AS, the parent company of BBS and Teller, joined forces.

2010-

In 2012 Nets strengthened its position on the Nordic market in 2012 with the acquisition of Finland's largest acquirer Luottokunta.
In 2015 Nets acquires Nordea Merchant Acquiring – the section of Nordea’s payment business dealing with acquiring of international payment cards in the Nordic and Baltic regions.^[2]^[3]

Bankenes BetalingsSentral

Bankenes BetalingsSentral AS
Type	Private
Industry	Financial services
Founded	1972
Headquarters	Oslo, Norway
Area served	Norway
Key people	Rune Fjeldstad (Chair, 2010)
Revenue	NOK 1,697 million (2008)
Operating income	NOK 201 million (2008)
Net income	NOK 157 million (2008)
Number of employees	830 (2008)
Website	www.bbs.no

Bankenes BetalingsSentral or BBS was a Norwegian company that provided centralised management of payment transactions, giro management and bank clearing. The most central solutions were Bankgiro, eFaktura and BankAxept. The company also developed technology related to transactions and online banking services. BBS was owned by the banks in Norway, and based in Oslo. BBS was established by the Norwegian banks to establish and operate a common infrastructure for interbank payments. This move for a shared infrastructure showed great insight where the owners decided not to compete on the infrastructure but rather on the services they offered. The availability of a common platform was one of the key factors in driving the digitalisation of the banking industry and modernisation of banking in Norway.

In 2010, BBS merged with PBS of Denmark and BBS and Teller of Norway to create Nets Group.

External links

References

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