OP Financial Group to pilot biometric payment cards in partnership with Tietoevry
23 November 2020
OP Financial Group, Finland’s largest financial services group, and TietoEVRY, the leading provider of software and digital banking services in the Nordics, have agreed to cooperate on a biometric payment card pilot.
OP wants to address increased customer demand for safer, more convenient, and hygienic payment methods at physical stores. It will be among the first banks in the world offering next generation biometric payments cards.
“At the moment over 60% of payment terminal transactions made with OP cards consist of contactless payments, which means that our customers have adopted this payment method very well. Biometric payment cards provide a secure and easy payment method which also enables contactless payments possible of over 50 euros. We are waiting to pilot this new payment method with our customers at latest during the second half of next year. We hope that the user experiences in the pilot will be good, so that we could bring this new alternative to our card portfolio,” says OP cards’ business lead Teemu Korte.
Biometric payment cards use fingerprints, which are securely verified on-card by using an integrated fingerprint sensor. This allows for convenient contactless payments even for high-value transactions, without having to use a PIN. Hence, virtually all payments can be carried out without physically touching the payment terminal. The fingerprint is easily linked with the card by the consumer at home, and the fingerprint template is only stored on the card.
TietoEVRY is the leading provider of card production and personalisation services in the Nordics and Baltics.
“We see great interest in the market for the secure, safe and convenient means of payment that biometric payment cards provide. We are excited to start working with OP on this, as we jointly pioneer the latest technology which benefits people’s everyday life. This collaboration is also proof of the strength of TietoEVRY’s partner network, in this case with our partners Tag Systems Group and Zwipe,” says Jarmo Rouhiainen, TietoEVRY’s Head of Card Production and Personalisation.
OP Financial Group is Finland’s largest financial services group, with two million owner-customers and 12,000 employees. We provide a comprehensive range of banking and insurance services for private and corporate customers. OP Financial Group consists of OP cooperative banks, its central cooperative OP Cooperative, and the latter's subsidiaries and affiliates. Our mission is to promote the sustainable prosperity, security and wellbeing of our owner-customers and operating region.
TietoEVRY creates digital advantage for businesses and society. We are a leading digital services and software company with local presence and global capabilities. Our Nordic values and heritage steer our success. Headquartered in Finland, TietoEVRY employs around 24 000 experts globally. The company serves thousands of enterprise and public sector customers in more than 90 countries. TietoEVRY’s annual turnover is approximately EUR 3 billion and its shares are listed on the NASDAQ in Helsinki and Stockholm as well as on the Oslo Børs. www.tietoevry.com