Accumulate secures online payments with mobile technology

Mobile security firm Accumulate has unveiled a new mobile-phone based security system for online payments

Check ME, part of Accumulate’s Mobile Everywhere (ME) platform, sends users a pin code direct to their mobile phone when making an online payment.

The pin code is entered online to complete the payment.

The system – similar to one already used by online payment service PayPal – is cheaper than alternatives that require all online banking customers to carry a physical key.

Accumulate CEO Stefan Hultberg said: “When online fraud increases, it hinders business opportunities.

“With the Accumulate ME-platform, card issuers and online shop owners can increase their business while greatly minimizing the fear many end-users have when using credit cards for online transactions.”

Check ME works with almost every mobile phone platform – including Android, Blackberry, iPhone, Java, Linux, Nokia Series 40/60, and Windows Mobile.

Hultberg expects other innovations for handset-based online security to follow.

“The launch of the ME-platform and Check ME will be followed by additional new, innovative and cost-effective identification and payment services using the ever present mobile phone,” he said.

Accumulate’s mobile security solutions are currently on display at MWC 2009 in Barcelona.