Financial Services, Latvia, Lithuania, Markets and Companies

International Internet Magazine. Baltic States news & analytics Tuesday, 26.05.2020, 08:20

Latvia's Transact Pro launches new co-branded gift card project in Lithuania

BC, Riga, 10.04.2017.Print version
Latvian payment services provider Transact Pro has launched its first project in Lithuania, issuing gift cards for Kaunas-based Mega, reports LETA

Transact Pro in cooperation with one of the largest shopping and leisure centers in Lithuania - Mega - has begun to issue co-branded gift cards, replacing gift coupons with cards from the international payment system MasterCard, the company announced.

"Mega shopping center is the first Transact Pro MasterCard gift card project in Lithuania. Currently, we are in the process of negotiating with other shopping centers in the Baltic region," said Jurijs Bordulans, Head of Business Development at Transact Pro.

"Today, shopping centers do not have to deal with local systems to provide acceptance of gift cards, accounting of turnover and settlements with retailers," he said. The MasterCard gift card makes it possible to assess the priority products of buyers, view purchase statistics, as well as organize information by time, day and the retailers attracting the highest buyers' spending.

The Mega gift card is available at the shopping center and is denominated from 10 to 400 euros. Purchases from merchants at the shopping center using this card are not subject to extra charges. The card balance can be accessed on the homepage of the Mega shopping and leisure center. Gift cards can be used at the shopping center only, no top-up or cash withdrawal options are provided.

With more than 200 shops, cafes, restaurants, sports center and a ten-meter-high aquarium - its main attraction - Mega shopping and leisure center is located in Kaunas, Lithuania.

In 2016, Transact Pro turnover dropped 12% to EUR 17.332 mln and its profit shrank 28.6% to EUR 6.83 mln.

Transact Pro operations are supervised by the Latvian financial regulator, the Finance and Capital Market Commission. Transact Pro is licensed provider of payment card issuing, acquiring and online payment acceptance tailored services. The company is a principal member of MasterCard International and Visa Europe.

Founded in 2004, Transact Pro belongs to two individuals - Marks Moskvins (90.2%) and Maksims Jarosevskis (9.8%).

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