The security software provider Arcot Systems Inc. has announced the signing of a Scandinavian banking company and an Israeli transaction processor with extensive international operations as customers.
The Sunnyvale, Calif., vendor said Monday that Nordea Group in Stockholm plans to adopt its TransFort authentication software to verify the identities of customers making online purchases. The software works with bank-issued smart cards to generate a one-time password that people must use to complete their transactions.
Arcot said this is one of the first times that a banking company has used smart cards in this way to support online purchases.
Elis Nemes, Arcot's vice president for Europe, Middle East, and Africa, said in a press release that e-commerce is very popular in Sweden and that "Nordea will set an example of how to gain additional cardholder protection in a convenient and efficient way, which many banks in Europe will follow."
The online payment provider SafeCharge Ltd. will also use TransFort to support Internet card transactions, Arcot said. Its software adheres to an international card security standard called 3-D Secure, which is marketed by the card companies under the names Verified by Visa, MasterCard SecureCode, and JCB J/Secure.
