Accumulate is show casing mobile payment using NFC technology. Customers of Accumulate that has launched and will launch mobile payment services based on Accumulates mobile financial services platform ME, can also use mobiles with built-in NFC for the pairing of a payment transaction at Point of Sales (POS).
When doing a payment transaction using Accumulates technology and processes no sensitive data like card number, CCV, expire date, etc. are stored on the mobile nor transmitted between the mobile and the payment terminal. Therefore a NFC scheme using an Secure Element (SE) and a Trusted Service Manager (TSM) is not needed (but can be used if the customer wants to use SE and/or TSM in their process).
First mobiles that has been tested are all Samsung NFC models, like the new Galaxy SIII and Galaxy Nexus. Nokia will launch Windows 8 later this year and all new models will include NFC. The Accumulate platform will support these when available on the market.
The Accumulate ME platform is technology independant so any pairing technology used at a payment transaction is supported, like NFC built-in mobile, RFID, Accumulate OTT, QR- and bar codes, etc. Also, a mobile payment service based on the Accumulate platform support all payment situations and more; POS, online, person-to-person, man-to-machine (ex. vending, mParking), in-app purchase, remittance, etc.