iZettle isn’t the only point of sale (POS) solution from Sweden that’s hoping to gain some traction. Accumulate has just launched a mobile merchant app that requires no special hardware or additions, and can run on any Android, iPhone and iPad. The purchases are made as a money transfer, authenticated by Accumulate’s One-Time-Tickets, and the platform can support mobile wallet or cards in mobile solutions. The mobile merchant app is in their strategy to plug into all mobile payment solutions, from point of sale situations, online payments, and man-to-machine payments.

It’s interesting to note that they they are leaving the actual banking functions and distribution to third party services. merchants contract with a payment service provider that provides the app. Then, a merchant would download and activate the app to be able to receive payments.

Accumulate launch mobile merchant app

The chicken and egg problem is familiar story for many payment solutions, but Accumulate has already gotten some ecosystem traction by being selected to support all Swedish mobile operators’ mobile wallet services using their technology last January.

How it works:

  • Start the application
  • Enter amount and ask the customer for the one-time code that is shown in his mobile
  • Enter the code and press enter
  • The purchase is shown in the customer’s mobile, approve with OK (or OK + PIN if higher amount)
  • Done, the transaction is stored in the buyer and the merchant’s app