Stockholm, Sweden – October 30, 2013 – Accumulate AB has filed a lawsuit in the District Court of Stockholm against Seamless Distribution AB (publ) for patent infringement. The lawsuit relates to Seamless’s mobile payment solution, SEQR. Accumulate requires Seamless to stop the use and marketing of SEQR.

Accumulate has an extensive patent portfolio in the field of mobile payment solutions, with patents in several countries and customers worldwide. The current patent infringement lawsuit relates to a Swedish patent from the patent portfolio.

Accumulate currently has licensed partners and customers around the world for its patented mobile payment solutions. Accumulate has made efforts to negotiate with Seamless to achieve a solution to the issue.

Accumulate AB is a privately owned company with investors including the Sixth AP Fund, TeliaSonera, PayEx and Svea Ekonomi. Accumulate has long experience of mobile online solutions with more than 100 million applications delivered since 2004. Today Accumulate's mobile payment solutions are used in many countries around the world, including Sweden (WyWallet, PayEx Mobil), Poland (IKO by PKO Bank Polski), Bulgaria (MOBB by Borica Banking Services) and Colombia (Socia by CredibanCo). Services based on the Accumulate solution are to be introduced in several countries (details not yet released). Accumulate's mobile payment solution was introduced earlier (first official implementation in 2009) than SEQR and is more widespread (with over 50,000 merchants compared to approximately 3,000 for SEQR[1]).