Transact Pro Powers Payment Gateway for Industra Bank

16 Sep 2020

Transact Pro, a leading Latvian non-banking financial services and gateway provider, and Industra, a Latvian credit institution, have teamed up to launch e-commerce solutions to the bank’s business customers in Latvia, the Baltic States and across Europe.  This drives significant growth opportunities for businesses looking to capitalize on the surge in online shopping.

Transact Pro provided Industra Bank a sophisticated White Labeled Payment Gateway solution, backed by an experienced 24/7 customer service team that provides technical assistance. The Payment Gateway is implemented via a universal API that uses a SaaS model to support secure online transactions using payment cards. The solution provides broad functionality and variety of payment options for B2B and B2C e-commerce, including: online shopping carts, card-on-file processing, subscriptions, invoice payments, one-click payments, mail order/telephone order, multi-currency processing, and person-to-person payments. Transactions are authenticated using 3D Secure technology, which helps prevent online fraud, while tokenization secures stored card credentials and transaction details.

Merchants can log into a secure online portal to monitor current business performance, view analytics for processed payments, and gain a detailed view into each transaction. A developer “sandbox” integration platform simulates Visa and Mastercard network connectivity, allowing merchants to integrate payments in a secure test environment prior to going live.
Transact Pro’s White Label Gateway platform includes round-the-clock customer support, allowing partners to quickly offer e-commerce services without the need to invest in IT infrastructure and resources. Industra can concentrate their time and effort on business development initiatives by entrusting technical issues and problem solving to the payment experts at Transact Pro.

About Industra
The joint stock company Industra Bank is a Latvian credit institution that was founded in 1994 and has more than 30 thousand customers, and in terms of this indicator, Industra is the sixth largest bank in Latvia. In January 2020, the name of the credit institution Meridian Trade Bank was changed to Industra Bank to reflect the change in the bank's business strategy. Industra has been created by local entrepreneurs and the bank's further activities will be focused on servicing Latvian small and medium-sized enterprises.

About Transact Pro
Transact Pro, the leader of the Latvian non-banking financial services sector was the first company in Latvia to operate in this sector. The Company is licensed by the Latvian Financial and Capital Market Commission as an electronic money institution and authorised to operate in each European Union Member State with the right to provide the payment services listed under the license. Transact Pro is a principal member of Visa and Mastercard, owns in-house payment processing center and a proprietary PCI DSS 1 compliant payment gateway.