FöreningsSparbanken takes lead on customer E-confidence

FöreningsSparbanken Takes Lead on Custom0er E-Confidence Groundbreaking Secure Payment Service Expected to Boost Consumer Confidence and Enhance Online Shopping In a move destined to provide best-in-class services to its customers, FöreningsSparbanken (Swedbank) announced today that it would soon launch a new secure payment service for remote shopping. The service, to be made available as from spring 2002, is expected to further enhance consumer confidence in a market that is already well acquainted with online shopping and payment. Customers using the new service will be provided with a "virtual" credit card that generates a unique, disposable number - a "Controlled Payment Number" - for each payment transaction. This makes it unnecessary to provide the real credit card number, which is thus protected from fraudulent use. "The new service will mean new watertight security for Swedbank customers trading over the Internet", said Markus Edstrom, Card Product Manager at Swedbank. "This will provide a strong encouragement to consumers still wary of shopping on line. It should remove the last barrier, allowing everyone to reap the benefits of e-commerce." Consumers can use the Controlled Payment Number to pay at any merchant worldwide that accepts credit or debit cards. There will be no need for merchants to adapt their systems. The service will not only boost security but also dramatically facilitate online shopping. Key features enhancing consumer convenience include automatic filling in of order forms, transaction history, and ability to charge purchases to different accounts. In the initial phase the service will be available via PC. Extension to mobile phone and digital TV will follow. Swedbank has teamed up with Orbiscom - the creator of the Controlled Payment Number technology - to bring this service to its customers. Orbiscom is a leading provider of secure payment solutions to financial institutions. The Controlled Payment Number technology is poised to become a global standard. "Swedbank is once more breaking new ground in applying technology to provide their customers with superior service" said Olivier Stoica, Director Sales and Marketing Europe for Orbiscom. "We are delighted to work with Swedbank to bring secure online shopping 'anytime, anywhere' to their 3 million customers." A press demonstration will be held at Swedbank´s head office at Brunkebergstorg 8, Stockholm on 30 October 2001. To attend, please call +46 8 585 933 81 or e-mail charlotte.a.persson@foreningssparbanken.se. For further information please contact: Kennet Karlsson, Head of Market Card and Payment,Swedbank, phone +46 8 585 923 41 or +46 70 531 15 88 kennet.karlsson@foreningssparbanken.se Olivier Stoica, Director Sales and Marketing Europe, Orbiscom, phone +32 2 357 10 00 olivier.stoica@orbiscom.com ------------------------------------------------------------ This information was brought to you by Waymaker http://www.waymaker.net The following files are available for download: http://www.waymaker.net/bitonline/2001/10/26/20011026BIT00530/bit0001.doc http://www.waymaker.net/bitonline/2001/10/26/20011026BIT00530/bit0001.pdf