HP expands mobile payments services with Accumulate partnership

HP will offer mobile payments and banking services to its customers after partnering with Swedish software provider Accumulate.

Accumulate offers a range of white labelled software solutions aimed at giving financial institutions “immediate access” to mobile payment apps. This includes its Mobile Everywhere authentication system and Pera Mobile transactions platform.

HP now plans to offer Accumulate's technology globally, expanding on its existing processing and payments services.

The deal follows a recent HP project to deliver a customised version of the Accumulate platform to PKO Bank Polski in Poland, integrating the software with the bank's back-end systems.

“The digitalisation wave on consumers is making mobile a critical channel for payment and services,” said Ed Adshead-Grant, general manager for HP Cards and Payments.

“The Accumulate solution, wrapped in an HP delivery with our analytics and secure hosting options, gives our clients another compelling proposition to win and keep their customers.”

The launch of a new mobile payments platform by the UK Payments Council in 2014 is set to drive wider adoption by banks and retailers in the UK. Some banks, such as Barclays, have already developed mobile platforms in-house, while thir- party software providers including Zapp and Monitise are also offering software to financial institutions.

Copyright © 2013 IDG Communications, Inc.

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