Interac Association/Acxsys Corporation (Interac), Canada’s payments brand, has teamed up with BankAxept, Norway’s domestic debit network, to help accelerate the launch of contactless and mobile debit solutions in Norway.
Both parties have inked licensing agreements, which will allow BankAxept to provide a secure and cost-effective contactless point-of-sale solution in Norway.
Additionally, the agreement will offer documentation and software that will position BankAxept to offer a broad range of mobile payment solutions to its banking clients.
Commenting on the agreement, BankAxept CEO Øyvind Apelland said: "Interac has provided us with innovative, scalable and cost-effective solutions that allow us to rapidly deliver secure contactless debit and mobile debit offerings.
"Through seamless integration of Interac specifications onto our network, we are able to exploit the proven capabilities of a fully operationalized contactless EMV solution."
Interac Association and Acxsys Corporation president and CEO Mark O’Connell said: "As Canada’s first and only domestic debit network, we have an acute understanding of the needs and challenges of operating a domestic debit network in an increasingly competitive and rapidly evolving payments arena.
"In recent years, we’ve invested heavily in technology and we’re excited that other domestic networks, such as BankAxept, see the value in licensing our proven payment solutions to enhance their contactless and mobile debit capabilities in their respective markets."