Swedish banks First Card and SEB, have shown an interest in security solutions from Todos AB. First Card has ordered 30,000 Todos C200 card readers for its corporate customers, while SEB placed an order of 10,000 for its clients.
This influx of orders shows that corporate credit cards have become vulnerable to fraud, identity theft, man-in-the-middle attacks and failures in SSL encryption. Businesses want to ensure that company card transactions are completed by authorized personnel only.
Awareness of this problem has caused banks to use increased security to differentiate their corporate credit cards from their competitors.
Todos AB has provided over 20 million products to more than 100 financial institutions in more than 30 countries.