Smart PIN solution has been adopted in France by a major credit institution – cards can be activated in just few minutes

Oberthur Technologies (OT), a world leader in digital security solutions for the mobility space, and Crédit Agricole Consumer Finance have concluded a new partnership to launch a service which enables PIN codes to be securely delivered via SMS. CA Consumer Finance, which notably operates in France under the Sofinco brand, is the first credit institution to offer its partners and their customers a card which can be activated in just a few minutes in complete safety, according to a press release.

Cardholders equipped with the OT solution will obtain their code almost instantly. It will allow them to use their card as soon as they receive it. This offers a practical response to the needs expressed by partners of CA Consumer Finance and its customers, in search of mobility, flexibility and security.

OT’s SMART PIN solution, which has been in use since 2009, secures the sending of codes via SMS. It is popular both for its speed of use and its reliability. Adoption of this solution to activate cards reduces fraud by eliminating correspondence by post, and features double encryption of the PIN, which is stored and delivered in a secure way, ensuring better traceability of the code’s transmission and faster access to credit.

“SMART PIN has already proved popular with several banks and offers numerous advantages in terms of speed and security,” says Eric Duforest, Managing Director of OT’s Financial Services Institutions activity.

“The solution developed with OT responds to three of our key objectives: innovation, simplification of the customer experience and their satisfaction,”adds Florence Burdin, Director of Operations of Crédit Agricole Consumer Finance France.

Crédit Agricole Consumer Finance is a major player in the consumer finance market with a managed loan book of €69 billion at end-December 2014 and operations in 21 countries.The group distributes a broad range of personal loans and associated services through all distribution channels, including direct sale, point-of-sale financing (automobile and household equipment) and partnerships. Crédit Agricole Consumer Finance is a leading commercial partner to the major retail chains, specialised retailers and institutions in the countries where it operates.