Mastercard has formed a strategic partnership with Maxaa to enhance card acceptance in Latvia & Lithuania. Through Maxaa’s SoftPOS cashier integrated terminals, the collaboration aims to expand the deployment of SoftPOS and Tap-on-Phone terminals with SMEs to increase card acceptance within these two markets that currently are among the ones with lower card acceptance rates

“It is a great honor to partner up and work with Mastercard enabling us to boost Maxaa’s operations and SoftPOS rollout in the region” – Helmuts Buls, CEO Maxaa 

Maxaa is a Latvian company that provides retail ecosystem solutions streamlining IT systems, cash registers, and point-of-sale (POS) systems, enabling merchants to concentrate on their primary business objectives while we streamline their technological needs. Driven by the belief that small, medium, and micro-merchants in the Baltics were swiftly transitioning to digital and mobile platforms, Maxaa took part in the Mastercard Lighthouse FINITIV program already Spring 2021. Through their business model aimed at consolidating various devices into a single unit per shop, not only optimizing processes but also championing environmental sustainability they won the FINITIV Baltic class of 2021.

“Mastercard has been a supportive take-off partner for us ever since spring 2021 when we participated in Mastercard Lighthouse program. At that time, we were the first SoftPOS provider in the region and the recognition and network from the Mastercard Lighthouse Program has helped us to strengthen our position in the market.” – Helmuts Buls, CEO Maxaa

Maxaa is expanding into Baltics, Finland, and beyond.  

“We have grown as a company, we are launching solutions in Baltics and Finland, preparing to enter markets outside EU and adding more services to our SoftPOS base. We are more than just a Tap-on-Phone provider as we have developed a Digital Fiscal Cash Register with embedded SoftPOS and digital receipts, enabling merchants managing sales while accepting card payments using regular Android Smart Devices.” – Helmuts Buls, CEO Maxaa 

This is Mastercard Lighthouse 

In 2018, Mastercard introduced the Lighthouse partnership program with the aim of scaling innovative startups to strengthen and future-proof the financial ecosystem in the Nordics and Baltics. The program is conducted twice a year, in spring and fall. Since the first edition, Lighthouse has enabled and promoted over 1500 partnership meetings. 

In spring 2020, Lighthouse was split into two separate initiatives: MASSIV and FINITIV. MASSIV focuses on supporting social impact startups with the potential to make a real difference, and that has the ambition to meet the UN Sustainable Development Goals (UN-SDG). FINITIV targets fintech startups. 

“The tech and startup industry has faced enormous challenges. Programs that enable innovative companies to establish partnerships, find investment and scale are therefore more important than ever. Partnerships are needed to promote innovation in Sweden and the Nordic region, and to continue building the sustainable companies of the future.”
– Mats Taraldsson, Head of Innovation, Fintech and Impact-tech Engagement at Mastercard Nordic & Baltic.