Delivering Secure and Seamless Digital Payment Experiences Across Nordics and Europe for a Digital Payment Leader

Client

The client, with origins in Italy, has been successfully providing payment services to different categories of end customers across the US. They have a significant presence in Nordics and Germany, too, and handle close to 2.5 million customers globally.

Challenges 

• Legacy payments infrastructure acquired through multiple M&As, led to redundancies.
• Massive technical debt increased technological costs globally.
• Large ecosystem of 250+ cards issuers and 7,00,000+ merchants.
• To effectively compete with other players and fintech substitutes, the client needed to deliver next-generation payments and card solutions.

LTM Solution

• Enabled superior contactless and secure payment experiences at retail stores and digital channels.
• Implemented an API marketplace to provide easy access to developers, large retailers, corporates, and fintechs to test suitable products, services, and data.
• Supported instant loan disbursal to allow customers to have interest-free loans using instantly issued virtual cards.
• Leveraged big data analytics to monetize existing siloed data and generate new revenue streams for merchant services, fraud, dispute service, and payments.

Business Benefits

• Enabled API-ready infrastructure with PSD2 compliant services.
• Enabled new revenue streams
• Launched new digital services and solutions for Nordic and European markets.
• Enabled 70% faster merchant onboarding.