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Swedbank ready for secure shopping with Orbiscom

15 March 2002  |  3077 views  |  0 "picture"

Swedish bank ForeningsSparbanken (Swedbank) is previewing a new secure Internet shopping service developed using dispoable card number technology from Orbiscom.

Customers using the new e-kort service will be provided with a 'virtual' payment card that generates a unique, disposable number for each payment transaction. The card can be used to pay for goods at any sales outlet worldwide that accepts credit or debit cards, without the need for special hardware installation.

Key features of the free service include automatic completion of order forms, transaction history viewing, and the ability to charge purchases to different accounts, says the bank.

Kennet Karlsson, head of market cards and payments at ForeningsSparbanken, says: "E-kort is the first in a series of enhanced payment products that we are currently developing with Orbiscom to meet the evolving needs of our customers."

Swedbank is demonstrating the system at the CeBIT technology fair in Hannover. The bank first contracted with Orbiscom in late October last year. The vendor has also signed agreements with Carte Bleue and Discover.

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