Borgun, a European payment processor and merchant acquirer, announced earlier this week it has signed an agreement with the fintech and insurtech company novae to support its digital transformation. Borgun reported that it and novae are aiming to co-create solutions in a digital capability framework (DCF), which will be developed by novae that leverages invisible payments, digital currency, embedded travel-related benefits, push payments and other technologies aimed at improving and expanding payment and rewards options for Borgun’s bank and merchant clients while enhancing the customer experience.
Borgun also reported that the DCF will feature a user-centric, universal, cross-border, all-digital, mobile-first loyalty platform that enables bank consumers and merchants to redeem points anytime, anywhere (online and in-store), from any device (mobile, desktop or wearable) and using any payment method (credit, debit, points or split payment). Speaking about the DCF and partnership, Sæmundur Sæmundsson, Borgun’s CEO, stated:
“Through our partnership with novae, Borgun is excited to harness online and mobile tools that will take customer benefits and the customer experience to the next level.”
Pétur Fridriksson, Borgun’s General Manager, Card Services and Business Development, then commented:
“Borgun intends to leverage the powerful solution novae is creating with us not only in Iceland, but also in the UK, Hungary, the Czech Republic and other markets where our company operates.”
Adriana P. Sanchez Krieger, novae’s Head of Europe, went on to add:
“novae’s alliance with Borgun is an exciting one, and this is only the beginning. Iceland will be our gateway for expansion throughout Europe.”