Nets, part of Nexi Group , a Europe-based paytech has signed a seven-year extension with BankID BankAxept as related to BankAxept , the Norwegian domestic scheme. With this extended agreement, Nets will continue its role in processing payments for the domestic scheme, seeking to provide a secure and efficient payment solution for Norwegian consumers and merchants.

Moreover, Nets will also work on further developing the functionality and relevance of the domestic scheme. Nexi Group has stated that this extended BankID BankAxept agreement is an important piece of the evolving Norwegian payment infrastructure. According to the press release, this agreement, which will continue until the year-end of 2031, aims to reinforce Nets' role in Norwegian payment infrastructure and confirm its position as a trusted partner for BankID BankAxept.

About Nexi and its recent partnerships Nexi is a European paytech company with the mission to drive the transition to a cashless Europe. With its portfolio of products, ecommerce expertise, and industry-specific solutions, Nexi provides support for the digital economy and the payment ecosystem globally across a broad range of different payment channels and methods. The company's technological platform enables it to operate in three market segments: merchant solutions, issuing solutions, and digital banking solutions.

In August 2023, Nexi announced the acquisition of a 30% stake in Germany-based payment service provider, Computop. The partnership was intended to further strengthen Nexi’s presence in the growth region DACH and the ecommerce space. Moreover, customers are expected to benefit from the joint developments of an advanced omnichannel innovation roadmap, and from investments in product development and regional expansion.

In July 2023, the company partnered with Shopware to improve payment capabilities for B2B merchants and specific verticals in European ecommerce markets. Following this partnership, Nexi would continue to invest in deals with European ecommerce platforms in order to improve the digitalisation development in the region. About BankAxept BankAxept is the national system for debit cards in Norway, processing more than 1.6 billion transactions annually which is mostly at point-of-sale and around 72% of the total turnover in the Norwegian market.

BankAxept's mission is to be a stable, cost-effective, and competitive solution for card payments. .