ForeningsSparbanken Launches New Method of Ensuring Simpler and Safer On-Line Shopping

STOCKHOLM, Sweden, March 15, 2002 (PRIMEZONE) -- In a move destined to provide best-in-class services to its customers, ForeningsSparbanken has developed a secure solution for on-line payment. The e-kort service is expected to further enhance consumer confidence in a market that is already well acquainted with remote shopping over the Internet.

Customers using the new service will be provided with a "virtual" payment card that generates a unique, disposable number for each payment transaction. This makes it unnecessary to specify the real card number, which is thus protected from fraudulent use.

"The free e-kort service means new watertight security for ForeningsSparbanken's customers trading over the Internet," said Markus Edstrom, Card Product Manager at ForeningsSparbanken. "This will be excellent news to consumers who are 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 e-kort service to pay at any sales outlet worldwide that accepts credit or debit cards. Customers do not need any special hardware and it is both quick and easy to connect to the service.

The service will not only boost security but also greatly simplify on-line shopping. Features that enhance customer convenience include automatic filling in of order forms, transaction history viewing and the ability to charge purchases to different accounts.

ForeningsSparbanken has teamed up with Orbiscom - the leading supplier of secure payment solutions worldwide - to bring the e-kort service to its customers.

"We are thrilled to have been chosen by ForeningsSparbanken as their technology partner for remote payments," said Olivier Stoica, Director of Sales and Marketing Europe at Orbiscom. "With more than 1 million customers (30% of the total customer base) using its flagship e-banking service, ForeningsSparbanken is an uncontested e-business leader. We are committed to working with ForeningsSparbanken to bring secure on-line shopping 'anytime, anywhere' to its 3 million customers."

"e-kort is the first in a series of enhanced payment products that we are currently developing with Orbiscom to meet the evolving needs of our customers," said Kennet Karlsson, Head of Market Cards and Payments at ForeningsSparbanken. "This is an integral part of ForeningsSparbanken's strategy of leveraging the power of the Internet to provide enhanced services to our customers."

The e-kort service will be demonstrated at a press conference at the CEBIT fair the March 18 at 10.30 A.M, in room 3A in the Convention Center.

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