TietoEnator's payment card system complies with EMV smart card standard

TietoEnator's payment card system complies with EMV smart card standard The latest development of Transmaster payment card system makes it compatible with EMV smart card standard. The standard specifies a joint technical platform for replacing all Eurocard, MasterCard and Visa cards with smart cards. Using smart cards based on EMV standard will further increase the safety of card payment transactions. At the moment, EMV compatible Transmaster is one of the few new technology payment card solutions in the world available for banks. It is estimated that in Europe most cards will be chip-based smart cards by the year 2005. While developing the system, Tieto Konts, a part of TietoEnator, co- operated with international payment card associations as well as the leading payment terminal manufacturer Hypercom. The co-operation partners undertook a full end-to-end testing of EMV smart card transactions. The supplier of the system, Tieto Konts, a part of TietoEnator, is responsible for the Eastern Central Europe operations in the financial branch. Finance Sector's objective is to be the leading IT-partner for the financial sector in the Nordic countries and a strong solutions provider worldwide. Central Eastern Europe and Central Europe is a rapidly growing market area of TietoEnator's Finance Sector. Additional information: Jaakko Parkkinen, Area Manager, TietoEnator Finance Sector, tel. +358 9 8626 3908 Maris Ozolins, Managing Director, Tieto Konts, tel. +371 728 6660 With a staff of 10,000 and annual net sales of 1.2 billion euros, TietoEnator is a leading supplier of high value-added IT services in Europe. TietoEnator provides consulting, systems development and integration, operation and support, product development services for customers, and software services. The Group has in-depth knowledge of its customers' businesses in areas such as telecommunications, banking and finance, the public sector and the forest industry. www.tietoenator.com TIETOENATOR CORPORATION DISTRIBUTION Principal media ------------------------------------------------------------ This information was brought to you by BIT http://www.bit.se The following files are available for download: http://www.bit.se/bitonline/2001/01/08/20010108BIT00460/bit0001.doc http://www.bit.se/bitonline/2001/01/08/20010108BIT00460/bit0002.pdf