He's saying there's no need to get up and stand just for his sake, or just because he's there. Really, the phrase should be, "don't stand on my ACCOUNT," but... well, I suppose either works, it's just that with "account," it's the more commonly used phrase. Telling someone not to do something on your account is to tell them not to exert themselves too much, as it isn't a big deal.
Such as, "oh, don't wait around on my account/accord," using either word interchangeably, would mean you're telling someone they don't have to wait just for you, that it's ok to go ahead with whatever they were doing.