Bulgaria's Borica - Bankservice taps Accumulate for mobile payments tech

Source: Accumulate

Accumulate and Borica - Bankservice (BO-BS) have signed a strategic agreement to set the technology standard for secure and innovative mobile payment services on the Bulgarian market.

The base is Accumulates Card Overlay solution that gives a fast track to secure and flexible mobile payment services. Initial mobile services is transaction history, balance and a card switch on/off followed by mobile payment at POS using one or more cards in the background.

Accumulate Card Overlay is a secure, easy to use and cost effective "card in the cloud" solution aimed at issuers like banks and credit card companies that want to add mobile payment as an option to their existing card payments, including the infrastructure for clearing and settlement. The solution consists of a fully operational mobile payment system that is placed on top of a credit card network system, with a minimum of new integration and implementation changes needed on the existing structure.

"Borica - Bankservice is in a unique situation with its card solution for the 27 commercial banks in Bulgaria. By using Accumulates award winning mobile security platform Mobile Everywhere, we can now help our customers enable best in class, secure and easy to use mobile payment and mobile security services", says Lubomir Tzekov, CEO of BO-BS.

BO-BS's customers will now have a fast track to enable customer branded, secure and easy to use mobile financial services. Services that can be enabled are:

Mobile payment - covering all payment situations, POS (NFC, OTT, QR, barcode, etc.), online, man-to-machine (ex. vending machine, mParking), remittance, etc.
Secure card services like switch on/off card, 3-D secure, one time cards, etc.
Mobile banking - a mobile channel for all transactional and informational services
Mobile security - secure login, digital signature and mobile eID
Other services - ticketing, loyalty, gift cards, purchase links/codes, etc.

The mobile payment services are available for all major mobile platforms including Android, Blackberry, iPhone, Java and Windows Mobile/Phone.

"The agreement is yet another approval of our technology and processes. We lookes. Wees. We look forward to help Borica - Bankservice and its customers to launch innovative mobile financial services with focus on security, ease of use, flexibility and which works on existing handsets", says Stefan Hultberg, CEO and co-founder of Accumulate.

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