Insight & Analysis

Press release: BOKIS and Nets renew agreement on international payment cards

Published: Jan 2019

8th January 2019 – BOKIS, a Danish banking collective, and Nets, a market leader in the payments industry, have extended their existing agreement on handling payments with international cards. The agreement ensures that regional and nationwide banks in the BOKIS association, comprising 40% of the Danish payment card market, can continue to benefit from an efficient and stable card infrastructure.

Nets will facilitate international payment card transactions for BOKIS, a collective with more than 50 members, and provide better terms and a dedicated platform to combat card fraud until 2021.

“We are pleased that with the agreement we can offer our banks better terms and lower overall costs over the next few years. This is important in a highly competitive market,” says Søren Nicolaisen, Director of National Banking, BOKIS.

“In recent years, together with Nets, we have developed new digital solutions that provide better customer service while reducing costs for banks, for example in cardholder disputes. To continue this, we have decided to renew the existing agreement for three more years,” says Jan Kondrup, Director of Local Banks, BOKIS.

The previous agreement, signed in 2014, has been expanded to include new services which help to prevent card fraud, such as Smart Block and Consumer Protection.

Nets too, is looking forward to the continued cooperation.

“It should be easy for banks to offer simple and intuitive customer solutions in a payment market that is becoming more and more complex. We are pleased to be extending our partnership with the banks in the BOKIS association, thus giving us the opportunity to continue our joint development of new solutions that make everyday business easier for cardholders,” says Thomas Jul, Head of Financial & Network Services, Nets.

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