EVRY, a Norway-based banking tech vendor, and Finland-based Aktia Bank have signed a five-year agreement under which EVRY will provide the entire value chain for card payment to the Finnish lender.
Under the deal, worth NOK150m ($18.7m), EVRY will provide virtual debit and credit cards for Aktia’s digital wallet service, Aktia Wallet.
EVRY’s new software for digitalising cards on mobile devices will issue new cards immediately enabling the customers to pay with their mobile phones at payment terminals that accept contactless payments globally.
EVRY will offer physical debit and credit cards to digital card payments and related services which includes card administration, authorisation processing, transaction monitoring and security solutions that detect and prevent fraud.
Aktia Bank director loans and cards Anton Tulikoura said: “Aktia continuously improves its financial services and products and their availability. We therefore need a collaboration partner that leads the field in the development of card and payment solutions and offers innovative and stable services.
“We are working hard to offer new solutions that will make it easier for our customers to manage their finances on a day-to-day basis, and this collaboration with EVRY will help accelerate developments in this area. The breadth of EVRY’s deliveries mean that we only need to have a relationship with one collaboration partner in the card area.”