OREANDA-NEWS. May 27, 2014. A project of several years that will enable Baltikums Bank to function as an online payment card acquirer (for e-commerce) is nearing conclusion.

The bank has secured licences with the VISA and MasterCard international payment systems, and will be entitled to provide its services to any company registered within the European Economic Area (EEA) that trades goods and services on the internet.
 
Baltikums Bank will provide your company with a settlement system that accepts payments made using payment cards in the MasterCard and VISA systems. This brings a number of advantages:

quick settlement: funds for purchases are quickly remitted to your company’s account;

new clientele and increased turnover: buyers who want to pay for a product or service will have greater options with a MasterCard, Maestro, VISA or VISA Electron payment card issued by any bank;

secure payment: a buyer’s payment card credentials are always safe – they are submitted on the website of the bank rather than the merchant, ensuring complete security of their data;

convenient income monitoring and management: transactions may be viewed quickly using account statements from our Internet Bank.
 
To commence acquiring payment cards on the internet, your company will need to:

open a current account with Baltikums Bank;

conclude an online payment card acquiring agreement with Baltikums Bank;

agree upon the pricelist and security deposit volume;

connect to a virtual terminal.
 
Once an agreement is concluded:
Baltikums Bank will service international payment cards under the MasterCard, Maestro, VISA and VISA Electron brands on the internet for your company’s benefit, relying on proven security systems – MasterCard SecureCode and Verified by VISA;

technical support will be provided by our partner SIA TransactPRO.