Nets Group

Last updated
Nets Holding A/S
Traded as Nets A/S
ISIN DK0060745370  OOjs UI icon edit-ltr-progressive.svg
Founded2010
Headquarters Ballerup, Denmark
Key people
Inge K. Hansen
(Chairman)
Bo Nilsson
(CEO)
Number of employees
2454 (2016) [1]
Website 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 company is headquartered in Copenhagen, but also has sites in Oslo, Stockholm, Helsinki and Tallinn. The customers of Nets are banks, businesses, merchants and the public sector.

Product portfolio

Avtalegiro

Avtalegiro is an invoice service operated by Nets on behalf of the Norwegian banking sector.

BankID

BankID is a 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]

Dankort

Dankort is the Danish national debit card launched in 1983.

NemID

NemID is a 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] .


Related Research Articles

A debit card is a plastic payment card that can be used instead of cash when making purchases. It is similar to a credit card, but unlike a credit card, the money is immediately transferred directly from the cardholder's bank account when performing any transaction.

Electronic funds transfer at point of sale is an electronic payment system involving electronic funds transfers based on the use of payment cards, such as debit or credit cards, at payment terminals located at points of sale. EFTPOS technology originated in the United States in 1981 and was adopted by other countries. In Australia and New Zealand, it is also the brand name of a specific system used for such payments; these systems are mainly country-specific and do not interconnect.

Smart card pocket-sized card with embedded integrated circuits for security-related functions

A smart card, chip card, or integrated circuit card (ICC) is a physical electronic authorization device, used to control access to a resource. It is typically a plastic credit card-sized card with an embedded integrated circuit (IC) chip. Many smart cards include a pattern of metal contacts to electrically connect to the internal chip. Others are contactless, and some are both. Smart cards can provide personal identification, authentication, data storage, and application processing. Applications include identification, financial, mobile phones (SIM), public transit, computer security, schools, and healthcare. Smart cards may provide strong security authentication for single sign-on (SSO) within organizations. Numerous nations have deployed smart cards throughout their populations.

Digital currency Internet based non-physical currency

Digital currency is a type of currency available in digital form. It exhibits properties similar to physical currencies, but can allow for instantaneous transactions and borderless transfer-of-ownership. Examples include virtual currencies, cryptocurrencies, and central bank digital currency. These currencies may be used to buy physical goods and services, but may also be restricted to certain communities such as for use inside an online game.

An electronic identification ("eID") is a digital solution for proof of identity of citizens or organizations, for example in view to access benefits or services provided by government authorities, banks or other companies, for mobile payments, etc. Apart from online authentication and login, many electronic identity services also give users the option to sign electronic documents with a digital signature.

Verifone is an American multinational corporation headquartered in San Jose, California, that provides technology for electronic payment transactions and value-added services at the point-of-sale. Verifone sells merchant-operated, consumer-facing and self-service payment systems to the financial, retail, hospitality, petroleum, government and healthcare industries. The company's products consist of POS electronic payment devices that run its own operating systems, security and encryption software, and certified payment software, and that are designed for both consumer-facing and unattended environments.

Contactless smart card contactless credential whose dimensions are credit-card size

A contactless smart card is a contactless credential whose dimensions are credit-card size. Its embedded integrated circuits can store data and communicate with a terminal via NFC. Commonplace uses include transit tickets, bank cards and passports.

Gemalto International digital security company

Gemalto is an international digital security company providing software applications, secure personal devices such as smart cards and tokens, and managed services. It is the world's largest manufacturer of SIM cards.

NETS (company)

Network for Electronic Transfers or more commonly known as NETS; is a Singaporean electronic payment service provider founded in 1985 by a consortium of local banks to establish the debit network and drive the adoption of electronic payments in Singapore. It is owned by DBS Bank, OCBC Bank and United Overseas Bank (UOB).

Contactless payment Technology enabling payment without physical contact.

Contactless payment systems are credit cards and debit cards, key fobs, smart cards, or other devices, including smartphones and other mobile devices, that use radio-frequency identification (RFID) or near field communication for making secure payments. The embedded integrated circuit chip and antenna enable consumers to wave their card, fob, or handheld device over a reader at the point of sale terminal. Contactless payments are made in close physical proximity, unlike mobile payments which use broad-area cellular or WiFi networks and do not involve close physical proximity.

Mobile identity is a development of online authentication and digital signatures, where the SIM card of one’s mobile phone works as an identity tool. Mobile identity enables legally binding authentication and transaction signing for online banking, payment confirmation, corporate services, and consuming online content. The user's certificates are maintained on the telecom operator's SIM card and in order to use them, the user has to enter a personal, secret PIN code. When using mobile identity, no separate card reader is needed, as the phone itself already performs both functions.

Payment and settlement systems in India are payment and settlement systems in India for financial transactions. They are covered by the Payment and Settlement Systems Act, 2007, legislated in December 2007 and regulated by the Reserve Bank of India and the Board for Regulation and Supervision of Payment and Settlement Systems.

National Payments Corporation of India NPCI payment system

The National Payments Corporation of India is an umbrella organisation for operating retail payments and settlement systems in India.

RuPay is a card scheme, conceived and launched by the National Payments Corporation of India (NPCI) on 26 March 2012. It was created to fulfil the Reserve Bank of India's (RBI) vision to have a domestic, open and multilateral system of payments.

Co-operative Bank Ltd

Co-operative Bank Ltd. is one of Myanmar's oldest and largest commercial banks. It became the first bank in Myanmar to issue ATM cards and credit cards. The bank, led by U Khin Mg Aye (Chairman) and U Kyaw Lynn (CEO) has over 200 branches across the country.

Vocalink is a payment systems company headquartered in the United Kingdom, created in 2007 from the merger between Voca and LINK. It designs, builds and operates the UK payments infrastructure, which underpins the provision of the Bacs payment system, the Direct Debit system, the UK ATM LINK switching platform covering 65,000 ATMs and the UK Faster Payments systems.

Carta Worldwide

Carta Worldwide is a Canadian software company that offers digital transaction processing, specializing in mobile and prepaid transactions. In addition to their Canadian headquarters, Carta has offices in London, Dubai, San Francisco and Casablanca. Carta operates internationally, providing financial technology and mobile payment software.

MobilePay is a mobile payment application developed by Danske Bank. The service allows payments by means of a smartphone application and was published on May 7, 2013, after Danske Bank discontinued its cooperation with other Danish banks on a common solution. It is mainly used in Denmark, but also in Finland. MobilePay was also available in Norway, but shut down in January 2018 due to competition from Vipps. MobilePay is a member of the European Mobile Payment Systems Association.

Digital identity in Australia is used by residents to validate who they are over digital mediums, such as over the Internet.

BankAxept

BankAxept is the national payment system in Norway, used both physically and eventually digitally. It is an open system, so that anyone that has concession to operate bank business in Norway can join the network. The security of BankAxept is accomplished with the use of chip technology and PIN codes. Payments of less than NOK 400 can be carried contactless and without use of a PIN code. Contactless payments are not as secure as chip and PIN. By using BankAxept, the money is charged from the cardholder's account immediately, and it is always verified whether or not there is money on the account.

References