The corona crisis has matured the Faroese e-commerce market. Now, Danish fintech Clearhaus and local gateway Terminal.fo are joining forces to make Faroese online stores easier and faster.
The Faroe Islands are currently experiencing a boom in the number of online businesses. Thus, the Faroese payment gateway Terminal.fo is now entering into a partnership with the Danish fintech Clearhaus to increase the speed of setting up online stores.
“In recent months, we have seen a huge Faroese demand for being able to quickly set up an online shop. Together with Clearhaus we have now accommodated this,” says Mourits Clementsen, sales manager at Terminal.fo.
The Faroe Islands has joined the global trend that has increased online sales in the wake of the COVID-19 crisis. But while online retailers in many other countries have been able to quickly set up shop, things have not gone as fast on the small island in the North Atlantic. The new partnership, however, makes it possible for Faroese online stores to be up and running in just 1-3 days.
“Speed has suddenly become very important for Faroese webshop owners. Clearhaus was the ideal partner for us to make this happen,” says Mourits Clementsen.
Clearhaus will now take care of the acquiring for the Terminal.fo merchants who want to set up a webshop quickly and easily. That segment is well-known for the Danish fintech since the 52,000 Faroese share many internet habits with the Danes. Denmark has one of the most active online shopping populations in the world and also happens to be Clearhaus’ home base.
“We are looking forward to helping our Nordic friends in the Faroe Islands handle fast payments online. Terminal.fo is determined to make payments easier for the Faroese merchants, so I have no doubt that we are a good match,” says CEO of Clearhaus, Claus Methmann Christensen.