Swedish mobile operators selects PayEx and Accumulate for their joint mobile payment service

(PresseBox) (Stockholm, ) 4T the joint venture company, including all Swedish mobile network operators, Telia, Tele2, Telenor and 3 has decided to base their mobile wallet service on services and technology from PayEx and Accumulate. The service will from start cover all mobile subscribers, all handsets and all payment situations.

4T the joint venture company, including all Swedish mobile network operators, Telia, Tele2, Telenor and 3 has decided to base their mobile wallet service on services and technology from PayEx and Accumulate. The mobile wallet service will be the same from all of operators giving the end users the same payment options and look and feel independant of operator used. This also easen the situation when/if a user wants to change service provider, though the mobile wallet service remains and don't need to be changed.

The new 4T service will be delivered by PayEx and Accumulate in cooperation, where the account holding and infrastructure services will be developed and operated for 4T by PayEx. The mobile wallet application solution and the mobile security is based on Accumulate's award winning mobile security platform ME. The mobile payment service will be an alternative for cash and card payments and will cover all payment situations;

- POS including NFC when available
- online
- person-to-person
- man-to-machine (example vending machines, parking meters, charging of electrical cars, etc).

The joint mobile wallet service is planned for launch before this summer. The service will at launch be available for 97 percent of Swedish mobile subscribers and covers almost any mobile handset delivered from 2006 onwards.

About 4T

4T Sweden AB is a newly established company for mobile payment services in Sweden. The company is owned by the four mobile operators Telia, Tele2, Telenor and 3. The launch takes place at summer 2012. The company's services will be marketed under a new brand that will be communicated shortly.

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