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Accenture Launches Mobile Payment Platform

Hosted, pay-per-transaction solution can connect to users on mobile operators or web sites for large-scale implementation of mobile financial services and is said to adjust to extremes of network traffic.

Accenture has announced a high-speed, high-volume mobile financial transaction software solution for telecommunications service providers and large banks. The mobile money management solution allows firms to reach customers through existing mobile operator networks, web and Internet channels and mobile devices, regardless of the device their customers prefer to use.

It also allows customers to conduct traditional banking transactions, adjusts to fluctuations in network traffic, such as sudden peaks of traffic at the beginning of a business day, and can facilitate thousands of simultaneous transactions.

"Mobile operators and banks are facing increasing pressure to provide mobile money services on mobile phones to all users," said Andy Zimmerman, global managing director of Mobility Services at Accenture, in a statement. "If they do not provide these services, they risk losing subscribers and being eliminated from the payment process."

The mobile money management solution makes it possible to process micropayments in real time, which helps companies take advantage of new business models, while potentially opening new streams of revenue. Micropayments are used to process small transaction amounts that would otherwise severely limit profit, or even cost more than the actual product if processed as traditional card transactions.

This type of payment is typically used by Internet merchants who sell content " or other intangible goods " that cost between a few cents and a few dollars each, such as music, pay-per-play games, newspapers, articles, reports, small computer programs, tickets and postcards.

The mobile money management solution incorporates the Fundamo Enterprise Mobile Financial Services platform and combines it with Accenture's Service Delivery Platform.

Accenture is white-labeling this product so that banks can brand it themselves. It offers transaction-based pricing, so banks pay only for the number of customers who use the capability. The platform is hosted at Accenture data centers around the world.

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