LHV Pank becomes a member of the Estonian E-Commerce Association


On the first day of 2023, AS LHV Pank became a supporting member of the Estonian E-Commerce Association. This gives LHV the opportunity to contribute to the development of e-commerce in Estonia and gives merchants the opportunity to receive information and experience directly from a provider of modern payment solutions.

‘LHV has been offering a modern e-commerce payment solution for seven years already. During this time, we have gained extensive experience in offering payment solutions, from servicing micro-merchants to global fintech companies, both in physical stores and in e-commerce,’ commented Indrek Kaljumäe, Product Manager of Payment Solutions at LHV. ‘We are very glad to join the E-Commerce Association, to share our extensive experience of e-commerce payment solutions with merchants and thereby support the successful development of domestic e-commerce,’ he added.

‘We can see that e-commerce today is no longer limited to a website where you can order goods. E-commerce is an opportunity for merchants to get to exactly where the consumer currently is. The place where the client makes their final purchase decision could be a mobile app, social media, mass event, or a self-service store. Knowledgeable merchants are demanding when it comes to payment solutions, as they understand that they are also competing with both nearby countries and global merchants, and only the best solutions ensure success,’ said Kaljumäe.

The Estonian E-Commerce Association is an umbrella organisation of almost 500 active companies dedicated to promoting e-commerce, which has been operating for more than 14 years. The Association unites Estonian e-merchants and others for whom the development of e-commerce is important. The umbrella organisation is a competence centre of e-commerce and a promoter of the field, and stands for the development of Estonian e-commerce in accordance with good practices, high-quality standards, and fair legislation in the judicial area.

For its part, LHV Pank serves a large number of companies, offering e-merchants a complete solution for collecting payments. Among these, merchants use a wide range of LHV solutions for e-environments, such as free e-shop modules (Magento 2, WooCommerce, Prestashop, OpenCart, Shoproller, Voog), standing payment options to increase the client base, solutions for various smart devices, the merchant portal for managing payments, technical support services, and other necessary services.

See more: https://www.lhv.ee/en/payment-acquiring

LHV Group is the largest domestic financial group and capital provider in Estonia. LHV Group’s key subsidiaries are LHV Pank, LHV Varahaldus, and LHV Kindlustus. The Group employs more than 880 people. As at the end of November, LHV’s banking services are being used by 374,000 clients, the pension funds managed by LHV have 131,000 active clients, and LHV Kindlustus protects a total of 150,000 clients. LHV’s UK branch offers banking infrastructure to 200 international financial services companies, via which LHV’s payment services reach clients around the world.

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