As part of the development strategy presented during the IPO, NEO Finance is launching the Payment Initiation Service (MIP) Neopay in a new market - the Netherlands. After introducing the service to Latvian and Estonian markets at the beginning of the year, the payment initiation service provided by Neopay is expanding the geographical boundaries beyond the Baltic region. NEO Finance, a company that administers Neopay and manages the leading P2P (peer-to-peer) lending platform in Lithuania, named Paskolu klubas (Loan Club), opened a branch in the Netherlands in 2019. In order to provide investors in this country with all the opportunities to conveniently and securely supplement their accounts at the NEO Finance platform, introducing the payment initiation service at this country was only a matter of time. Evaldas Remeikis, Chairman of the Board of NEO Finance, notes that the decision to expand into the Netherlands market was also determined by the rapidly developing e-commerce - the country is one of the leading European countries in e-commerce, their consumers prefer online shopping and are open to modern payment methods as Neopay. According to the data of the statistical portal Statista, in 2019 the Netherlands' e-commerce amounted to 25.8 billion. EUR, which was 10.3% nationwide retail. From now investors of all three Baltic countries and the Netherlands have the opportunity to top up their NEO Finance accounts using the Neopay MIP, which allow them to invest immediately. Aiva Remeikiene Head of Administration E. aiva@neofinance.com
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