Accumulate AB Aims for Chinese Expansion
- Tuesday, August 30th, 2011
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Swedish mobile technology company Accumulate AB has forged a deal to take its Mobile Everywhere (ME) mobile payment technology to the Chinese market.
The company has formed a joint venture with Juno Capital Asia, with the ambition to create a mobile security company in China.
ME is a software-based mobile payments solution that the company says works will all phones made since 2004.
“Accumulates mobile security platform is the best in class in the industry,” says Zhou Xiao He, chairman of Juno Capital Asia. “Together we now make this technology available for financial institutions in China, giving their customers next-generation mobile payment services.”
“We are excited about the cooperation with Juno Capital,” says Carl Palmstierna, chairman of Accumulate. “Combining the companies resources and skills, the target is to get new projects where our mobile payment platform is the base where customers use their mobile as a channel for many financial services.”
The joint venture will be headquartered in Beijing.