10/9/2010

By Sophie Baker

Nets, a new payment group, has been launched, the result of a merger between Norwegian Nordito AS and Teller.

Nordito AS, the parent company of BBS and Teller, the holding company of the Danish entity, PBS, are united within payment cards, payment solutions and the exchange of payment information through Nets.

Nets aims to become the leading Northern European provider of payment, card and information solutions, and will begin with further growth in the Nordic region.

“We are proud to launch our new company, Nets,” commented Rune Fjelstad, CEO at Nets. “The Nordic region is our domestic market and our focus will also be on creating further growth in Northern Europe. The fact that we have joined forces makes us an even more attractive and competitive provider and partner in the field of payment services.

“International companies are looking for one supplier to handle all payments in the markets where they operate. We will safeguard our strong position in Norway and Denmark. Additionally, the merger allows us to strengthen our market position in Sweden above all.”

Nets employs 2,200 employees across give countries, and the name was originally used in 2007 when BBS and PBD established the joint company for processing card transactions. However, the partnership has now developed into a merger, and the entire group will be known as Nets. The business area of financial acquiring will continue under the name Teller as a subsidiary in the Nets Group.

The main office will be in Copenhagen, with additional competence and business centres located in Oslo, and local offices will be established in Stockholm, Helsinki, Tallinn and Glostrup and Aarhus in Denmark.