Gemalto (Euronext NL0000400653 GTO), the world leader in digital security, has been awarded a major contract by BankAxept, 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