Hewlett-Packard expands its activities in Mobile Payments and Banking, through a global agreement with Accumulate

HP announced today the further expansion of its activity in the payments industry, through the signing of a global agreement with Accumulate.  Following a successful implementation of the IKO mobile payment scheme in Poland with PKO Bank Polski, HP is taking the Accumulate technology and project experience to a number of new markets under a wider partnership.

HP offers secure processing solutions and payment technologies to a number of banks and telecommunication companies in the Americas, Europe and Asia. HP decided to add the Accumulate technology to its core portfolio, to enable a number of its global customers to use a proven solution in mobile payments, mobile banking and mobile security services.

Accumulate is head quartered in Stockholm, Sweden, and has a long experience of mobile online solutions with more than 100 million applications delivered since 2004. Accumulate's award winning mobile security platform, methods and processes are a strong fit for system integrators who want to offer customer branded offerings in mobile payment, mobile banking and mobile authentication/security.

The Accumulate customer portfolio continues to grow with clients including PKO Bank Polski (Poland), Borica Bankservice (Bulgaria), National Commercial Bank (Saudi Arabia), Shell (Greece) and PayPal (Sweden). Services based on the Accumulate solution are to be introduced in several countries around the world.

“The strategic agreement with HP is exciting news. HP’s customers can now get immediate access to our mobile technology and enable innovative mobile payment, banking and security services. We are already in deals together with HP and we believe this partnership will give us many new and interesting projects,” says Stefan Hultberg, CEO and Co-Founder of Accumulate.

“The digitalisation wave on consumers is making mobile a critical channel for payment and services. HP is a trusted partner for the design and run of secure, mission critical payment systems.  The Accumulate solution, wrapped in an HP delivery with our analytics and secure hosting options, gives our clients another compelling proposition to win and keep their customers,” commented Ed Adshead-Grant, General Manager for HP Cards and Payments.

More information:

Stefan Hultberg

CEO Accumulate  +46 703 505 704

stefan.hultberg@accumulate.se

Ed Adshead-Grant

General Manager, HP Cards and Payments +44 7775035565

eag@hp.com

About HP

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