“We wanted to get a better understanding of our customers’ needs and conducted surveys and interviews to understand what problems are most important for customers to get help with. The whole process was really valuable and we agreed to create a payment solution together with Visa that suited all our customers. For example, it was important to offer a virtual and a physical bank card, to instantly be able to help the customer wherever they are.” says Helen Björk, Product Manager at Northmill.
In addition to its global payment network and broad expertise, key to the choice of Visa as a partner was its strong local presence in the Nordic region. Working together, they also made it possible for Northmill to become a ‘Principal Member’, which means that you can issue your own cards, instead of having to involve a third party issuer.
“Our collaboration with Visa gives us a broad toolbox with world-class expertise. We receive valuable advice from the local fintech team and access to invaluable insights about the payment market from the experts that can help our products become better for our customers. This can be anything from how to increase usage of our cards or how to better understand who our customers are and how to solve their daily problems.”
This sort of improvement in Northmill’s product represents an opportunity to give customers useful insights about their consumption. For example, a person who often buys single tickets on public transport should be able to receive prompts that it makes more sense to buy a monthly card - and thus save money every month.