Cybersecurity Insights

Foregenix Becomes Accredited as BankAxept Third-Party Auditor

26/03/20 10:00

We’re happy to announce that Foregenix has been accredited as BankAxept Third-Party Auditor (TPA) by Bits AS.

What is BankAxept?

BankAxept is the national card payment scheme in Norway used for both physical and digital transactions. It’s owned by Vipps AS, which is owned by Norwegian banks, and payments made through the system are approved in real time, be it from the use of a chip and PIN, contactless NFC technology or mobile phones.

BankAxept is responsible for 80% of all card transactions in Norway. Its goal is to ensure secure payments and to develop user-friendly, cost efficient and stable payment solutions for the Norwegians.

Bits AS

Bits AS is the financial infrastructure company of the bank and finance industry in Norway. Bits AS is responsible for establishing, maintaining and developing standards and specifications that are used in the Norwegian national payment infrastructure. 

The Norwegian payment infrastructure is considered one of the best in the world. This infrastructure, maintained and developed by Bits AS, is a vital part of the Norwegian society – supporting everyone, from individual customers to local businesses and the financial sector.

BankAxept Third-Party Auditor

Foregenix as a Third-Party Auditor can now check if terminals offer the required level of service, acceptance, performance and security to BankAxept cardholders, and issue a Point-of Sale (POS) BankAxept Security Certification.

The certification is needed for a BankAxept terminal to be rolled out. The POS Certification is divided in two parts:

  • POS Functional and Interoperability Certification
  • POS ATM Security Certification

Foregenix is one of only two companies in the world that can execute the POS Security Certification.

Christian Charette, Chief Operating Officer at Foregenix, stated:

“The Norwegian payment infrastructure is one of the best in the world, therefore being accredited as a BankAxept Third-Party Auditor is an incredible achievement and highlights Foregenix’ commitment to support efforts to keep the world’s payment systems secure.”

To know more about the POS BankAxept Security Certification and Foregenix’ services as a Third-Party Auditor, please contact us at hello@foregenix.com.

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