Nordea contracts with Schlumberger for card-based Internet payments
22 November 2002 | 3175 views | 0
Nordea has contracted with SchlumbergerSema for the delivery of a smart card-based security solution for customers making payments via the Internet.
Under the agreement with Nordea - which is a continuation of a longstanding collaboration with the former Postgirot - Schlumberger will supply some 400,000 users of Nordea's transaction clearinghouse service with smart cards and readers for remote, mobile authentication.
Niclas Westén, project manager at Nordea says: "We handle around Skr125 billion per month, and not a single krona has slipped through our fingers in all these years. The latest developments provide a mobile solution that enables users to carry their cards and card readers with them in order to perform their transactions on any computer."
The readers are small enough to fit inside a wallet, he says.
Westén adds: "Even though the cards and readers are new, we won't have to make any changes to our systems, which is a major advantage."
The solution requires that the user insert the card into the card reader, connect to the Nordea service via the Internet, enter the random number appearing on the Web site and punch in the PIN code. The card then automatically generates and displays a number, which the customer uses to log-in. For all payments, a digital signature and payment certificate are created when the account number and payment amount are entered.