MWC: Accumulate strengthens security of credit card transactions via the mobile

Contact: Stefan Hultberg, +46 70 350 5704, [email protected]
URL:
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Accumulate strengthens security of credit card transactions via the mobile

The launch of the ME-platform and the Check ME product enables enhanced security and opens up for new, innovative and cost-effective services in payment and identification using the mobile phone.

Barcelona, February 17, 2009 - At the Mobile World Congress 2009, Accumulate will launch its new mobile technology platform - Mobile Everywhere (ME). The platform is based on patented technology that enables new and innovative payment and identification solutions on the mobile device. The first product to be released from the Accumulate ME-platform is Check ME, which extends security and control features of the mobile phone, so that consumers can comfortably conduct credit card transactions over their device.

"When online fraud increases, it hinders business opportunities. With the Accumulate ME-platform, card issuers and online shop owners can increase their business while greatly minimizing  the fear many end-users have when using credit cards for online transactions", says Stefan Hultberg, CEO of Accumulate. 

Check ME is based on the ME-platform and secures online credit card transactions using the mobile to verify and authenticate the user. Customers are typically credit card issuers such as banks. Key benefits are:

    • Mobile is always with you - increasing accessibility
    • As secure as token generators - eliminates need for extra device
    • No external storage of credit card data
    • Works with almost every mobile phone
    • Easy to use

An example Check ME's usage: A consumer makes a credit card purchase online, and authenticates her identity with a pin code provided to her via Check ME on her mobile.


"The launch of the ME-platform and Check ME will be followed by additional new, innovative and cost-effective identification and payment services using the ever present  mobile phone", says Stefan Hultberg.

ME-platform - the technology
The core components of the ME-platform consist of a mobile client that is distributed to users and a back-end transaction server system. The ME-platform offers 3D security and uses a standard mobile phone as a security device, making truly secure authentication accessible for the masses.

For each transaction two separate lines of communication are established - simultaneously - between the customer and the service provider, using two different communication systems: the mobile phone and computer-to-computer communication via the Internet. The end users use their regular computer and standard cellular phone. The service provider sends encrypted information - and receives encrypted reconfirmation - using their web server, and an external transaction service.

 

The ME-platform products currently work on all major mobile platforms including Android, Blackberry, iPhone, Java, Linux, Nokia Series 40/60 and Windows Mobile.

Visit Accumulate at MWC 2009
If you would like to meet Accumulate in Barcelona, just send a mail with your request to
[email protected]. We will reply with more information on where and when to meet.

More information
Stefan Hultberg, +46 70 350 5704,
[email protected].

About Accumulate
Accumulate - world leading provider for secure connected mobile solutions. For more information please visit
www.accumulate.se or contact us in Stockholm or London.
London office:  Accumulate UK Limited, 306 Harbour Yard, Chelsea Harbour, London SW10 0XD, United Kingdom. Phone + 44 207 351 5944
Stockholm office: Accumulate AB, Norrlandsgatan 23, S-111 43 Stockholm, Sweden. Phone +46 8 20 46 15

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