Eika Alliance, one of the largest players in the Norwegian financial market, with almost a million customers, has partnered with Oberthur Technologies to launch of the first dual payment card certified by BankAxept. This is the first step for an acceleration of the rollout of contactless payment in Norway.
OT’s dual payments card leverages INTERAC Flash technology that allows Eika to offer to its customers a contactless BankAxept certified payment card. BankAxept is the local Norwegian payment scheme and has the most widely used payment card, representing 9 out of 10 transactions in Norway. Contactless payments are available at over 100,000 merchants in the country.
OT’s dual payments card is based on the Near Field Communication technology (NFC), which allows wireless communication between both the card and the payment terminal using radio signals. Thanks to this technology, contactless cards make payments easier and faster. As users don’t need to enter their PIN codes, payments are completed in less than half a second, if the amount does not exceed NOK200. The purchase can be completed by simply waving the card over the payment terminal. However, if the store doesn’t support NFC technology, Eika’s cardholders still have the possibility to use the chip and its PIN code.
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