DnB NOR and Telenor to establish TSM Nordic AS

Press release
4 minute read
DnB NOR and Telenor will establish TSM Nordic AS (Trusted Service Manager) in connection with the imminent launch of payments by mobile phone in the Norwegian market.

In connection with the introduction of mobile phone payments, DnB NOR and Telenor believe there will be a need for a partner who can distribute and maintain payment cards and tickets in mobile phones on behalf of card and ticket issuers and in cooperation with mobile operators. This is why TSM Nordic will be established as a new trusted partner in the mobile ecosystem with so-called Near Field Communication (NFC). The company will look into business opportunities and will be a subsidiary of Doorstep, a joint venture owned 50/50 by DnB NOR ASA and Telenor ASA. DnB NOR's Bent Bentsen will be general manager of the company while Hanne Sjursen at Telenor will be chairman of the Board of Directors.

DnB NOR and Telenor are well under way with preparations to enable Norwegian consumers to use mobile phones to pay for goods and to pay for and store tickets and travel season tickets. This is made possible through new technology in both SIM cards and in mobile phones. DnB NOR and Telenor will test the technology among consumers and in shops in strategic places in the centre of Oslo in the first half of 2008.

The testing in Oslo will be the first of its kind in the Nordic region and among the first in the world based on standardised components. The solution will be adapted to mobile phones equipped with NFC (Near Field Communication), SIM cards for secure storage of the payment program and personal data, and the MasterCard® PayPass payment solution.

International trend
Payment solutions based on contactless technology are rapidly being launched in markets throughout the world, especially in the US and Asia. The solutions are promoted by the large payment networks, such as MasterCard, and major mobile network stakeholders like GSM Association.

"Through the establishment of TSM Nordic AS, DnB NOR and Telenor demonstrate their interest in securing a position in the market for payment solutions based on new, contactless technology," says Hanne Sjursen.

Strategic cooperation
DnB NOR and Telenor are cooperating on future payment solutions and are at the forefront with respect to appurtenant technology and solutions.

For further information, please contact:
DnB NOR: General manager for TSM Nordic AS and project manager for new payment solutions in DnB NOR, Bent Bentsen, tel. (+47) 90692719, bent.bentsen@dnbnor.no

Hanne Sjursen, Board chairman in TSM Nordic and group manager ID and e-payment at Telenor
Tel.: (+47) 913 23 099