This collaboration represents a significant advance in payment services in the European Union. ASHBURN International will offer Rietumu Bank a diverse range of acquiring machines on outsourcing terms, including standard EFTPOS terminals and Android OS devices. Modern equipment and software are expected to streamline payment processes, giving end users and merchants greater convenience.

Sigitas Šniukas, Head of Sales at ASHBURN International, remarked, “I hope this partnership between our companies will inspire other banks to take on new challenges and develop innovative solutions. Based on our extensive experience in acquiring network development, we are ready to collaborate with active market players to drive further progress.”

Rietumu Bank was established in 1992 and has been one of Latvia’s leading commercial banks for a long time. It has grown in assets to rank fifth in the country. The bank has been actively engaged in foreign markets. In 2018, the company focused on the Baltic States and EU operations.

As part of its core business, Rietumu Bank offers services to companies, provides support for individual credit and investment projects, facilitates Baltic companies’ entry into new markets, finances projects across multiple sectors, collaborates with fintech firms, and promotes green economic development.

ASHBURN International and Rietumu Bank are confident that their joint initiative will lead to a successful implementation of new payment processing technology.