TeliaSonera invests in mobile ID and payment companies

Source: TeliaSonera

TeliaSonera has decided to invest in the innovation companies NorthID and Accumulate.

The investments are examples of TeliaSonera's strategy to strengthen innovation capacity by establishing various partnerships supporting mobile behavior and benefiting its customers.

"These partnerships will broaden our product and service portfolio, says Kennet Rådne, Head of Product Management in Mobility Services. Our strategy is to invest in new or existing companies close to our own core business which support mobile behavior and add value to our customers. In the long-run, this will have a positive impact on TeliaSonera's business. We have several examples of successful partnerships, for instance our cooperation with Spotify."

NorthID, founded 2007, develops mobile applications which secure the exchange of digital personal information and digital identities.

Accumulate, founded 2004, has developed processes for secure transactions which can be used for mobile payments, mobile banking and mobile authentication services.

"NorthID has managed to create revenue streams in a new exciting way by using mobility networks and terminals, continues Kennet Rådne. By combining all these resources NorthID package information and functionality into services that can be offered by TeliaSonera. Our partnership with Accumulate is a result of increased interest in making transactions with the mobile phone. This is a fast growing area which we intend to promote with different kinds of partnerships. These investments in new technologies will create more value for our customers and also differentiate our services from our competitors."

"We believe that our work with partners will be a win-win situation for both us, the entrepreneurs and most importantly for our customers," concludes Kennet Rådne.

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