Accumulate and Borica-Bankservice are joining to develop a technology standard to improve security and innovation for mobile payment services in Bulgaria, reported Finextra. The new service will be based on Accumulates Card Overlay solution, which is a "card in the cloud" solution for banks and credit card companies seeking to add mobile payment systems.
The first phase of mobile services will include transaction history, balance and card switch on/off. The second phase will include mobile payments at the point of sale with one or more cards.
Lubomir Tzekov, CEO of Borica-Bankservice, said, "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."
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