The Accumulate merchant app works as a mobile POS terminal and no extra hardware is needed. It’s a perfect complementary product for PSP’s and payment terminal vendors that want to reach a new target group, small merchants and event- or season based trade.
MWC Barcelona – February 28, 2012 Accumulate launches a mobile merchant app for small merchants and event-based trading (markets, fairs, seasonal trade, etc.). It is based on Pera Mobile, the standard for mobile payments, and requires no special hardware or additions. The mobile payment application works as a stand-alone POS terminal and is a perfect complement for payment service providers (PSP’s) and payment terminal manufacturers, who can now reach a new audience that previously only handled the cash purchase. The solution is technology independent and supports NFC (active and passive), QR codes, bar codes, etc.
The new merchant app can run on any Android, iPhone and iPad. The purchases are made as a money transfer and can support mobile wallet or cards in mobile solutions. Security is very high and no sensitive information such as card number, expiration date, CCV code, etc. is stored or communicated in a purchase.
To get started the merchant need a contract with a payment service provider that provides the app. Then, just to download and activate the app to be able to receive payments.
“With this solution, merchants get a secure, easy to use and cost effective payment solution for customers who do not have cash. We are in discussions with a number of providers of payment services and terminals, and interest is very high,” says Stefan Hultberg, CEO of Accumulate.
How it works;
Start the application
Enter amount and ask the customer for the one-time code that is shown in his mobile
Enter the code and press enter
The purchase is shown in the customer's mobile, approve with OK (or OK + PIN if higher amount)
Done, the transaction is stored in the buyer and the merchant's app
Accumulate is enabling the next generation of mobile payments with a solution that covers all payment situations along with the utmost security and flexibility. Completing the sales offer with a comprehensive portfolio within mobile banking and mobile security makes Accumulate a leading actor in the world market for mobile financial services. For more information please visit www.accumulate.se.