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Getting connected with Nordea Connect

Nordea’s new payment service provider (PSP) solution Nordea Connect promises to bring flexibility, trust and simplicity to e-commerce. The online payments platform provides the core of the banks’s new e-commerce offering and consolidates the most relevant Nordic payment methods for merchants in one unified set up.

Find out more about Nordea Connect at nordeaconnect.com

Designed for merchants, Nordea Connect is a Nordic online payments platform that directly connects business owners to the full value chain of Nordea’s solutions and advisory services.

Damon Amoui, Head of Commercialisation at Nordea Connect, says: “Nordea Connect utilises our market position, vast payment experience, relations and partnerships to create a solution that ties together our traditional banking services with our new digital payment services. We are continuously looking at how we can best add value for our merchants and their end consumers and create new products and services that are both relevant and useful.”

For Damon, the factors that can be decisive as to whether an online business is successful are relatively the same for both large and small companies:

“All sorts of businesses are today looking towards digitising their services and adding more online payment touchpoints. This is partly driven by consumer preferences but also to increase profitability, add intelligence to purchase and payment processes and to enable up-sell and cross-selling possibilities. We’re also seeing that essentially everything is comparable and accessible today and changing between companies has become easier than ever. These are all areas that offer great potential, but they can create some challenges for companies that are used to operating in a different way.”

“Customers are used to instant gratification today, where things should just work and ideally on their terms. Best practice has been built by key players like Amazon and Apple, and users have adapted and become used to the convenience, efficiency and simplicity that they have been able to provide,” adds Damon.

All sorts of businesses are today looking towards digitising their services and adding more online payment touchpoints. This is partly driven by consumer preferences but also to increase profitability, add intelligence to purchase and payment processes and to enable up-sell and cross-selling possibilities.

Damon Amoui, Head of Commercialisation at Nordea Connect

Making it work

In order to become a success in either the B2B or B2C space, a few critical points need to be addressed.

Damon explains: “One of the key reasons for dropping out of a purchase is a lack of safety or due to not having the customers’ preferred payment method as an option. It’s essential that a PSP solution can offer a selection of payment methods in order to increase the chances of a customer completing a purchase. Consumers now have multiple ways of accessing instant feedback related to a purchase they are about to make. Therefore, it’s important to encourage social proofing. Customers trust other customers, which is why sales driven from review sites are reaching all-time highs.”

“As the online space is cluttered and congested with information, users are increasingly starting to expect relevance in their interactions. Companies that can provide this will do better than others. Therefore, building long-term relationships and striving for loyalty with end consumers is key. Also, there’s no one-size-fits-all in the online space. Trying to understand who you’re selling to and designing your service to better meet their needs and wishes is well worth the effort.”

One of the key reasons for dropping out of a purchase is a lack of safety or due to not having the customers’ preferred payment method as an option. It’s essential that a PSP solution can offer a selection of payment methods in order to increase the chances of a customer completing a purchase.

Damon Amoui, Head of Commercialisation at Nordea Connect

Bringing Nordic value

Nordea Connect’s Nordic wide coverage, adaptability and holistic offering are all key plus points for the new PSP solution.

Damon adds: “Nordea’s brand is incredibly strong in all of the Nordics. By partnering with us you also become an early subscriber to the changes in the Nordic payment infrastructure. Our service is quite modular, so customers can choose to only utilise parts of our service or have us handle their entire online payment experience. Of course, pricing is also relevant but not the most important factor.”

“The one thing that we saw and the one thing that we have firmly believed in Nordea Connect for quite some time is the simplicity you can gain from one consolidation and integration. Having a one stop shop is becoming even more important today and we are able to provide a comprehensive checkout solution. We often hear from e-retailers that ‘we’re using X supplier for Swish, Y supplier for cards’ and so on. It’s becoming quite complex to deal with so for us to also be able to offer a one stop shop creates great value. Of course, one of our key strengths is that we are Nordic and that is part of our DNA, that is what we stand for. Being able to give access to the Nordic market in one simple integration with one party (Nordea) is the great value we can offer beyond just us bundling our different banking services.”


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Damon Amoui, Nordea Connect's Head of Commercialisation at Retail Experience Live in Stockholm

The one thing that we have firmly believed in Nordea Connect for quite some time is the simplicity you can gain from one consolidation and integration. Having a one stop shop is becoming even more important today and we are able to provide a comprehensive checkout solution.

Damon Amoui, Head of Commercialisation at Nordea Connect

Connecting with the market

Damon concludes: “Offering flexibility, trust and simplicity are of course something that people are very interested in. One of Nordea’s key business objectives is to help customers on their digitalisation journeys and e-commerce is a key part of that. We have been supporting our corporate customers on their business journeys for many years and have now evolved our offering to a range of different e-commerce services to meet their online needs. We’ve built Nordea Connect to support both small and very large companies in achieving their online ambitions. As part of our e-commerce services, we are also packaging Nordea’s comprehensive payment expertise and provide expert opinions on how the payments and e-commerce landscape is changing so our merchants can adapt their businesses.”

Find more information on Nordea Connect or contact Damon on Damon.Amoui@nordea.com

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