What is BankAxept?
BankAxept is Norway’s national payment scheme. Out of 10 store purchases made by card in Norway, 8 are made with BankAxept cards. When BankAxept cards are used for physical
commerce, the payment is verified in real time using chip and the user’s personal PIN code. The transfer is finalized on the next working day.
When BankAxept was established in the early 1990’s, the service was owned and operated by Finans Norge. To address challenges from new payment solutions and entities, BankAxept AS was reestablished in 2014 with the Norwegian banks as owners. BankAxept’s
mission is to develop new payment solutions for new channels. This includes
developing contactless payment for cards and mobile phones, online payment, and
solutions that support mobile wallets. BankAxept AS develops and operates
payment products for the banks under the brand name BankAxept.