The card overlay solution consists of a fully operational mobile payment system that can be placed on top of a credit card network system, with a minimum of new integration and implementation changes needed on the existing structure.

"We are already working with card companies and what attracts them is that they now can offer a cost effective, secure and flexible mobile payment service, and as a bonus can leverage on the already done investments in clearing and settlement", says Stefan Hultberg, CEO at Accumulate.

The solution is very secure, more secure than a POS or online purchase using the card, since the sensitive card information like card number, expire date and the CCV-code are never transmitted doing a transaction nor stored on the mobile handset. Using the Accumulate Card Overlay also minimizes the risk of fraud attempts like skimming, fishing and man-in-middle attacks.

Since no sensitive data is transferred when communicating the transaction the solution is flexible in technologies that can be used; One Time Ticket (OTT), NFC stickers or NFC integrated devices for enabled NFC POS terminals. QR and bar codes can also be used to transfer the OTT for direct cashier integration.

The solution is live and works in existing infrastructure with for example existing POS machines and cash register systems. It supports most handsets including Android, Blackberry, iPhone, Java, Windows Mobile and Windows Phone.

Use case example - POS;
1. The user starts the mobile application.
2. Transfer via appropriate pairing method (NFC, QR code, bar code, etc) from the application to the payment terminal.
3. The details of the purchase are presented to the user in the application and confirmed with OK (or PIN + OK if higher values).

Other use cases where Accumulate Card Overlay can be used are; online, vending, mPOS, mCommerce (in-app/m-browser), etc.