Finnish smart card company Setec has won a contract to supply of over 350,000 Visa EMV smart cards to Baltic banking group Hansabank.
The cards will be delivered to Hansabank's businesses in Estonia, Lithuania and Latvia during the summer.
Jarmo Rouhiainen, senior vice president of Setec's banking and retail business unit, says the EMV card payment market in the Baltic countries is growing rapidly and the area is emerging as a forerunner in introducing chip-based EMV cards.
He adds that the volume of cards in Lithuania is estimated to double in the near future, and there also is high growth potential in the Latvian card market.