New Nordic payment group challenges intricate industry.
Bambora is launched, a Nordic payment group that simplifies for retailers and can contribute to increased sales. Bambora consists of some of the payment industry’s prime innovators, engineers, financial advisors, marketeers and digital developers with the common goal of simplifying trade between people, in stores as well as online.
The Nordics is like a Silicon Valley for payment solutions. We have followed and contributed to the development of this during our more than 10 years in the industry. But we have also seen a number of exorbitant obstacles that still aren’t solved and complicate trade for above all small and medium sized businesses. We know for example that 40 percent of the Nordic retailers do not know what they actually pay in fees for card purchases or how the agreements are constructed, we need to change this, says Johan Tjärnberg, CEO at Bambora. Bambora was created from the companies formerly known as Euroline, ePay, MPS, DK Online, Key Corp and Samport, that combined handle more than three billion transactions, of which 50 percent online. This makes Bambora the largest in Sweden for online payment transactions
"Intricacy is our largest enemy. Our key objective right now is therefore to simplify for as many retailers as possible by removing bureaucracy and administration so they can focus on their business. This will benefit retailers, and I also believe and hope that it will benefit Sweden as a whole since trade is an important engine for growth in the larger economy" Johan Tjärnberg.
Bambora is owned by Nordic Capital Fund VIII and consists of a consolidation of the companies Samport, MPS, ePay, DK Online, Key Corp and Euroline.