The new law will require online payments to be confirmed by the cardholder using two-factor authentication and right now, banks are working on having solutions in place that will ensure simple, frictionless and safe payments with two-factor validation when shopping with a payment card online. Our Danish entity and direct distribution channel of consumer finance, Express Bank, has chosen to develop its own app for this purpose, which will make it easy and intuitive for the bank’s customers to shop online.
“We have seen that customers are very technology-ready, and to an extended degree are ready to use their mobile phone for payments. We have developed our own solution that keeps our customers in our brand universe, which they know and feel safe in, even more so when they consequently must confirm online payments with two-factor authentication, says Kenneth Nielsen, Nordic Head of Cards at Express Bank, and continues:
“The app is the first step in our digital strategy, where we gradually offer more of our services via mobile, which will increase the value for our customers and the functionalities which they can access via their smartphone.”
The app, called Express Bank Secure, is developed with Nets, and the authentication process for online payments will work in the same way as the NemID app: The app will automatically open when a transaction needs to be authenticated, and a purchase can be validated either by entering a personal password or through biometric facial recognition.
“In Nets, we are happy to support our customers in developing individual solutions that fit their specific needs and supporting them in making it easy and intuitive for card holders to make secure purchases,” says Majken Bech Thanning, Product Manager, Nets.
The app has been made ready for Express Bank’s customers from December 1st 2020.
