HypoVereinsbank moves on micropayments

HypoVereinsbank moves on micropayments

HypoVereinsbank (HVB Group) has contracted with Dublin-based payments outfit Altamedius with the aim of launching a suite of next generation micropayment services over the Internet and mobile channels.

Reiner Zorbach, director of electronic transaction services at HVB Group, says: “We chose Altamedius because of the strength of their e-payment software, particularly in the rapidly expanding area of micropayment for online digital content."

HVB Group says the new payment suite will form a central part of the bank's e-business offensive, as it expects a quantum leap in the demand for e-payment solutions.

The number of online users in Germany is expected to grow from the present 19 million to over 40 million in 2005. E-commerce sales of €174 billion are expected in 2005 for all of Europe. By 2003 it is assumed 14% of all B2B market volume will be transacted online.

The German bank sees a similarly steep trend in the m-commerce sector, citeing figures which forecast over one billion mobile phone users worldwide by 2003.

The Altamedius payment platform enables consumers to make secure payments in a wireless or Web environment using new (add-to-bill, micropayment) and existing (credit and debit card, bank account) payment methods.

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