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Consumers and Mobile Financial Services – Free Report

Mobile phones have increasingly become tools that consumers use for banking, payments, budgeting, and shopping. Given the rapid pace of developments in the area of mobile finance, the Federal Reserve Board began conducting annual surveys of consumers’ use of mobile financial services in 2011. This 78-page report, “Consumers and Mobile Financial Services” (March, 2015) examines trends in the adoption and use of mobile banking, payments, and shopping behavior and how the emergence of mobile financial services affects consumers’ interaction with financial institutions.

You are here: Home / News / New Mobile Payment Service by Swedish Operator Telia Uses Accumulate’s Mobile Security Platform

New Mobile Payment Service by Swedish Operator Telia Uses Accumulate’s Mobile Security Platform

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The mobile security platform Mobile Everywhere (ME) from Accumulate is being used to enable the mobile payment service “Telia Mobil Plånbok” launched by Swedish mobile operator Telia. With the platform all mobile financial services can be served using one platform; mobile payment, mobile banking and mobile security.

The Telia branded mobile payment service is a solution delivered by PayEx, a leading payment service provider. Accumulate’s mobile security platform Mobile Everywhere (ME) is used for securing all mobile transactions and for the enabling of mobile services as a integrated part of the PayEx mobile payment solutions.

“We have been working with Accumulate and their Mobile Everywhere platform for a long time and we are convinced that it is the right solution for enabling secure and easy to use mobile payments”, says Raymond Klavestad, CEO of PayEx Solutions.

First out is SMS Premium payments like for ticketing, music and purchase of goods in vending machines and person-to-person money transfer. The solution provided by Accumulate can easily enable more payment options and other mobile services, and this without having the end user to re-download, re-install and reactivate their mobile application. The service is from start available on all major mobile platforms.

“We are of course excited that our mobile payment solution is used by the market leading operator in Sweden. This and other deals coming soon will pave the way for the increased usage of the mobile in many and different payment situations. To get customer adoption we believe that mobile financial services should be fast and easy to use”, says Stefan Hultberg, CEO of Accumulate.

Organizations that want to offer mobile financial services to its customers can with the mobile security platform from Accumulate enable secure and easy to use services like:

  • Mobile payments – POS (incl. NFC payments), person-to-person, online, vending machines, remittance, etc.
  • Mobile banking – full mobile channel to all informational and transactional services.
  • Other services – examples; ticketing, coupons, loyalty and membership points
  • Online card transactions – example is using the mobile for 3D Secure.