SEB Kort secures e-commerce payments

SEB Kort AB, through its redemption unit Euroline, is the first in
Sweden to offer 3DSecure, a new customer-friendly standard for secure
credit card payments via e-commerce. This means that shops, travel
agencies, tickets- and events companies, many of which have redemption
agreements with Euroline, can now offer their customers the possibility
to pay with credit cards on the Internet in a safe and simple manner.

"3DSecure is simple to use for cardholders while providing payment
guarantee to the store. Furthermore, 3DSecure is accepted in the U.S.,
which may enable it to gain global coverage," says Euroline Manager Per
Astrom.

3DSecure functions in such a way that when the customer wants to pay,
he/she has to state his/her card number. With the use of coded
communication, this information is confirmed by the card company through
a special security server. The customer identifies himself/herself with
a password, then the bank verifies this information, and the seller gets
the OK signal to carry out the purchase.

3DSecure allows the card company to simply identify and approve the
buyer. Once this step is completed, the shop is guaranteed payment from
Euroline.

"The major advantage with 3DSecure is that the buyer recognises the
identification method from his/her bank or card issuer. Secure
Electronic Transaction (SET), 3DSecure's predecessor, was harshly
criticised for its complicated method," says Per Astrom.

In order to offer 3DSecure, the shop needs to install the Merchant Plug-
in software, which communicates with the customer's card issuer. The
customer does not need any software.

3DSecure was developed by Visa in co-operation with partners such as the
Arcot IT company.

MasterCard has also adopted the standard, which is also known as
"Verified by Visa" and "MasterCard Secure Code," respectively.

SEB Kort is a wholly-owned subsidiary of the SEB Group with companies in
Sweden, Denmark, Finland and Norway. By the end of 2002, SEB Kort had
issued approximately 2.1 cards, including around 1.6 million in Sweden.
In Scandinavia, SEB Kort owns the exclusive franchise right to the
Diners Club trademark. In Sweden and Norway, the company owns the
exclusive right to Eurocard. The company is also responsible for several
company-specific cards, e.g. Statoilkort and the combined Diners
Club/SAS Eurobonus card. An important part of SEB Kort is provided by
Euroline, a technologically advanced system of payment.

For further information, please contact:
Per Astrom, Euroline Manager, 070-564 7287
Rikard Malmfors, Euroline Marketing Manager, 08-14 6920
Kerstin Ottosson, Euroline Information Manager, 070-660 5200