22 September 2017
Find out more

Norwegian banks prep mobile payments scheme with Gemalto

29 September 2016  |  2985 views  |  0 Source: Gemalto

Gemalto (Euronext NL0000400653 GTO), the world leader in digital security, has been awarded a major contract by BankA​xept, the national payment scheme of Norway, to enable all local banks to interconnect through a single credentials management hub for streamlined and secure management of mobile payments services.

BankAxept is owned by all the banks in Norway, and is spearheading the efforts to federate the country's banks and merchants in their migration towards digital payments. With more than eight million BankAxept payment cards in circulation, the close to 1.5 billion transactions in 2015 represent nine out of ten of the in-store payments done by Norwegian cards1. The new solution will make it far easier for merchants in Norway to offer customers the option of simple and secure payments via their smartphones, boosting the growth of the mobile payment ecosystem in the country.

Gemalto is providing its cloud-based, turn-key Allynis Trusted Service Hub (TSH) solution which, combined with BankAxept's platform, will facilitate seamless, one-stop interconnectivity between all the banks participating to the BankAxept payment scheme. The TSH is at the heart of enabling a highly convenient consumer journey that will allow consumers to have their payment credentials issued and securely loaded onto their handsets in real time, by connecting with BankAxept's own tokenization server and by being fully compatible with the range of mobile wallet applications using the BankAxept scheme.

"Gemalto's expertise in the deployment of mobile payment services is proven with numerous references worldwide," said Øyvind Apelland, CEO for BankAxept. "Their solution offers flexibility and modularity, combined with rapid time-to-market. This modular approach suits us well since it facilitates integration with our in-house components."

"The Norwegian banking sector has a long tradition of creating shared infrastructures and platforms for payment schemes," said Philippe Cambriel, President for Europe, Mediterranean and CIS at Gemalto. "The BankAxept mobile payment hub is the latest example of this co-operative approach, benefiting not only banks, but also merchants looking for a simple and secure payment method."

1 Source: https://www.linkedin.com/company/bankaxept-as

Comments: (0)

Comment on this story (membership required)

Related company news

 

Related blogs

Create a blog about this story (membership required)
visit www.abe-eba.eudownload the paper nowvisit www.sibos.com

Top topics

Most viewed Most shared
HSBC switches on selfie payments in ChinaHSBC switches on selfie payments in China
12388 views comments | 26 tweets | 41 linkedin
Equifax hack: Visa and Mastercard flag 200k compromised credit cardsEquifax hack: Visa and Mastercard flag 200...
10912 views comments | 6 tweets | 17 linkedin
Dutch bank sentences teenage DDoS culprit to community serviceDutch bank sentences teenage DDoS culprit...
9505 views comments | 6 tweets | 3 linkedin
Apple P2P payments service nears launchApple P2P payments service nears launch
8117 views comments | 18 tweets | 26 linkedin
UAE banks pool cyber security dataUAE banks pool cyber security data
8095 views comments | 5 tweets | 4 linkedin

Featured job

circa £250K total package
London

Find your next job