Finaro, the global cross-border payment provider and fully licensed bank, has today announced its European Cloud Commerce deployment with payments technology company Mastercard, Nordic neobank and POS provider, Northmill, and leading full commerce enablement technology company, NMI. Following its launch in the U.S. in 2021, this partnership will bring Mastercard’s cloud native software-based acceptance solution, Cloud Commerce, to small and medium-sized merchants across three Nordic markets – Sweden, Norway, and Finland – ahead of a planned commercial roll-out in other countries across Europe.

Cloud Commerce represents the next evolution in contactless payments combining Tap on Phone, Pay by Link, and Click to Pay technology to make it easier for businesses to accept payments by accelerating acceptance rates and lowering entry barriers. Merchants of any size can accept contactless payments from any contactless enabled form of payment – phone, card or wearables – vastly reducing POS terminal maintenance costs and dependence on inflexible physical infrastructure. Finaro, will provide payment processing and acquiring services to enable Mastercard’s Cloud Commerce solution, for merchants who want to accept Tap on Phone payments on their eligible NFC-enabled devices.

Northmill’s merchants are using NFC enabled Android smartphones, as secure point-of-sale devices accepting contactless electronic payments. Northmill already has more than 2,500 merchants and 600,000 end users of mobile point-of-sale (mPOS) across the Nordic region. Additionally, NMI who partnered with Mastercard on the initial Cloud Tap on Phone pilot and processes over $203 billion in payments volume, will operate as the key integration partner and distributor.

Achiya Fried, Chief Commercial and Strategy Office for Finaro, adds: “Finaro is delighted to join this deployment with Mastercard, NMI and Northmill, bringing the cutting-edge capabilities of Tap on Phone payments to Nordic merchants. With these next-generation acceptance capabilities, merchants can literally accept contactless transactions whenever and wherever, they wish. And this deployment signifies another important milestone for Finaro’s footprint in the Nordics, which we consider a strategic territory in our global business.”

Tord Topsholm, Chief Executive Officer at Northmill adds: “We are thrilled to be partnering with Finaro, Mastercard, and NMI to bring the benefits of Cloud Commerce to small and medium-sized merchants across the Nordics. This is a game-changer for businesses that want to provide a seamless, secure, and convenient payment experience that meets the needs of their customers and will make it easier for merchants to accept contactless payments and enable them to focus on what they do best – serving their customers.”

Davide Messina, Senior Vice President Merchant Solutions Europe at Mastercard added: “The Cloud powers our work to make every device a way to pay and be paid. It gives our customers more flexibility, plugging into services more quickly and with less hardware. We are pleased to be working with Finaro, NMI and Northmill on this launch to bring secure cloud Tap on Phone payments to the European region.

According to Ruben Frimand Nielsen, Vice President of Sales & Business Development for the Nordics at Finaro, the partnership between these companies represents a golden opportunity for merchants across the Nordics to bring the convenience of contactless payments to even more businesses: “With the Nordic region being one of the most advanced eCommerce markets in Europe, merchants there are familiar with mobile commerce and mPOS terminals, but this new offer takes Nordic payments to the next level.”

Peter Galvin, Chief Product Officer at NMI: “The launch of Cloud Tap on Phone pilot saw great success in the U.S. so we’re thrilled to expand this partnership into the Nordic market. Consumers today prioritize convenience, speed, and ease of use in their payment experiences, and this technology will help merchants provide the best contactless payments experience possible by utilizing smartphones instead of investing in additional hardware to process payments more quickly than ever before.”

About Finaro

Finaro is a global cross-border payment provider and fully licensed bank empowering international commerce through brilliantly simple payments. Our passionate team, exceptional tech capabilities, product innovation, and customer-centric approach enables us to simplify complexity and create multidimensional solutions that generate growth and enable peace of mind for our merchants. To learn more, visit www.finaro.com.

Press Contact Finaro
Marisa Rijpkema
Head of Marketing, Finaro
Marisa.rijpkema@Finaro.com

About Northmill

Northmill is a fintech company with the vision to improve financial life, offer merchants smart solutions and erase the borders between in-store and online. Northmill creates a more personal and relevant experience for people and companies, helping more than 2,500 merchants and 600,000 end users. Northmill Group AB (publ) was founded in 2006 and owns Northmill Bank AB and Northmill Flo AB. The Group has 160 employees and has operations in Sweden, Norway, Finland and Denmark. Northmill Bank AB acts under the supervision of Finansinspektionen, the Swedish Financial Supervisory Authority and is subject to the Banking and Financing Business Act (2004:297)

About NMI

NMI is a leading global payment enablement platform, processing more than $2.2 billion in payments annually. We enable payments for over 3,500 partners and over 277,000 merchants around the world and across the entire commerce ecosystem: online, in-app, mobile, in-store, unattended and whatever’s next. We’re constantly innovating in order to power the next era of payments, building in the latest technology so ISVs, ISOs, banks and fintech innovators can focus on what they do best. NMI has offices in the US and UK and serves global customers.

Don’t just turn on payments, transform the way you do business

  • Generate New Revenue By adding or expanding payment offerings to your solution, you can start earning higher monthly and transaction-based recurring revenue.
  • Offer the Power of Choice Allow merchants to choose from 125+ shopping cart integrations and 200+ processor options to streamline their onboarding.
  • Seamless White Labeling Make the platform an extension of your brand by adding your logo, colors and customizing your URL.

Talk to Our Team

Invalid number

By submitting your information, you agree to NMI's Privacy Policy & Terms and Conditions

237,000+ Connected devices
300+ EMV device certifications
$200B+ Payments volume
2.3B+ Transactions
NMI and INIT Collaboration Enhances San Diego Transit System with Seamless 'Tap-on/Tap-off' Contactless Payments
News

NMI and INIT Collaboration Enhances San Diego Transit System with Seamless 'Tap-on/Tap-off' Contactless Payments

Germany-based INIT integrates NMI’s advanced embedded payment technology into its transit ticketing system, prioritising convenience and secur... Learn More
Embedded payments are revolutionizing the way consumers pay
News

Embedded payments are revolutionizing the way consumers pay

Traditionally, businesses would partner with financial institutions, such as banks, payment facilitators, or independent sales organizations, ... Learn More
Scaling back on self-checkout? 5 ways retailers can make it work
News

Scaling back on self-checkout? 5 ways retailers can make it work

In a post-COVID world, more retailers are turning to self-checkout. The can reduce checkout lines and waiting times, but may not be suitable f... Learn More
What will Walmart’s launch of BNPL through One mean for the industry?
News

What will Walmart’s launch of BNPL through One mean for the industry?

Walmart announced in April that it will be leveraging its majority-owned fintech One to offer BNPL options to its customers. This move is an a... Learn More
NMI Expands Its Global Operations With Opening of South Africa Office
News

NMI Expands Its Global Operations With Opening of South Africa Office

NMI increases its global capacity to deliver a premium partner experience and 24/7 support  SCHAUMBURG, IL – MAY 15, 2024 – NMI, a global lea... Learn More
NMI launches new mobile card reader ID Tech VP3350
News

NMI Launches New Mobile Card Reader to Enable Fast, Seamless Payments

NMI’s ISO and ISV partners gain access to an affordable, easily integrable point-of-sale device to better serve micro and field merchants  SC... Learn More
NMI executives receive ETA awards
News

NMI Executives Receive Industry Recognition from ETA

NMI’s Chief Product Officer, VP Business Development and VP UK & European Sales honored by Electronic Transactions Association SCHAUMBUR... Learn More
NMI Launches the Next-Generation of Embedded Payments Solutions
News

NMI Launches the Next-Generation of Embedded Payments Solutions

Modular embedded payments platform enables software platforms and ISOs to quickly and easily integrate and accept payments, manage relationshi... Learn More
NMI Strengthens its Executive Team with New Leaders Overseeing Talent, Culture and Technology
News

NMI Strengthens its Executive Team with New Leaders Overseeing Talent, Culture and Technology

Casey Jameson appointed as Chief Talent Officer and Phillip Goericke promoted to Chief Technology Officer SCHAUMBURG, IL – January 31, 2024 –... Learn More
NMI Named to Inc.’s Second Annual Power Partner Awards
News

NMI Named to Inc.’s Second Annual Power Partner Awards

Roundup highlights B2B partners that support startups across all business functions and empower growth SCHAUMBURG, IL – OCTOBER 24, 2023 – In... Learn More