STOCKHOLM--(BUSINESS WIRE)--Now you can transfer money simply, securely and free between private individuals, using SEQR. Developed by the listed Swedish company Seamless, SEQR is the world’s first payments solution for mobile phones that can be used both for payments in retail outlets and to private individuals directly into their normal bank accounts, free and independent of bank affiliation.
Since this spring, the Seamless app SEQR has made it possible to pay in a range of Swedish shops and restaurants using a mobile phone. The product is in the process of being launched internationally. Payment is made by scanning a QR code and approving with a personal PIN code. No card is involved in the transaction.
“Seamless is now leading the global technology race. Our latest SEQR function adds the capability of sending money to someone else’s bank account, simply and without charge. The system is perfect for sharing a restaurant bill, for example, or buying items on Internet trading sites,” says Emil Wikström, SEQR business area chief at Seamless.
The new function is available with downloads of the new version of the SEQR app. To send money, all you need is the recipient’s mobile number if it is to a smartphone. Money can be received without the app installed. The sender invites the recipient to download SEQR and then deposit the money by nominating a bank account.
The solution means that neither the sender nor the recipient needs to reveal sensitive information such as account numbers or personal code numbers. Money sent is withdrawn from the sender’s billing account with Collector that is linked to SEQR, and the unique Seamless transaction exchange – annually handling over 3.1 billion transactions globally – does the rest.
Seamless is one of the world’s leading suppliers of payment systems for mobile/cell- phones and annually handles more than 3.1 billion transactions via 525 000 active purchase points. This, combined with over 11 years of experience and presence in 26 countries, gives Seamless a strong position on the mobile payments market. The company’s unique transaction platform makes SEQR possible. Seamless is traded on Nasdaq OMX Stockholm, stock symbol SEAM.
SEQR, developed by Seamless, is the simplest and swiftest solution on the market for mobile payments. The customer needs only to use the SEQR app to scan a QR code at the checkout and then approve payment with a personal PIN code. SEQR works just as easily in physical shops and in online shopping and is both faster and more secure than credit card payment. The technology demands no investment by vendors — all that is needed is a decal with a QR code at the checkout point and the vendor starts saving money on every transaction thanks to the extremely low transaction fee.
www.seqr.se – Twitter:@seqrse – facebook.com/seqrse
Collector is an innovative financial company specialized in optimizing cash flow. Since its start in 1999, the company has grown to currently employ 200 people. We have branch offices in Gothenburg, Stockholm, Malmö, Oslo, Helsinki and Munich. We are experts in factoring and credit management for companies. We also facilitate effective and secure purchasing by invoice and installment payments. We can offer private individuals advantageous savings structures as well as credit cards and unsecured loans.
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