STOCKHOLM--(BUSINESS WIRE)--Regulatory News:
Until now, SEQR customers have been able to use their phones to make payments in stores where SEQR have an integration to the merchants’ cash register. SEQR customers will be able to shop with SEQR in any store that has NFC enabled card terminals, whether or not a merchant has a direct agreement with SEQR.
“Today, we are a world leader in terms of the number of direct agreements we have with merchants and retail chains. However, there has been a bottle neck with regard to how quickly we can integrate even more merchants. Our new NFC solution eliminates this bottleneck and, on launch, will immediately provide SEQR customers with the opportunity to shop in millions of stores and points of sale across the globe. Even in countries where it is not currently possible to download SEQR,” says Peter Fredell, CEO of Seamless.
Fredell continued, “Merchants will still be able to integrate with SEQR and in doing so significantly reduce their transaction fees, while also utilizing SEQR features that will increase sales and loyalty among their customers.”
The NFC functionality will automatically be available to existing SEQR customers without the need to download a new SEQR app. Furthermore, this also means that all card terminals that accept Apple Pay will also accept SEQR.
The technology is scheduled to be launched and in production in the first quarter of 2016 and is being demonstrated for the first time on October 25, 2015 at Money20/20 in Las Vegas, the world’s largest trade show for payment and financial services.
This is the type of information that Seamless Distribution AB (publ) is required to disclose pursuant to the Securities Market Act and/or the Financial Instruments Trading Act. The information was submitted for publication on October 22, 2015 at 07:50 a.m. (CET).
About Seamless / SEQR (se·cure) is Europe’s most used mobile payment solution in stores and online. SEQR enables anybody with a smartphone to pay in stores, at restaurants, parking lots and online, transfer money at no charge, connect loyalty programs, store receipts digitally and receive offers and promotions directly through one mobile app. Through the SEQR app, the user simply scans or taps a QR-code/NFC at check-out and approves the purchase by entering a PIN code. Fast, smooth and safe, SEQR’s payment solution enables merchants to lower interchange fees significantly compared to those charged by traditional card companies. SEQR’s unique transaction platform has been developed by Seamless, one of the world’s largest suppliers of payment systems for mobile phones. Founded in 2001 and active in 35 countries, Seamless handles more than 3,7 billion transactions annually through 575 000 active sales outlets. 6 200 merchants have chosen SEQR including the largest grocery chains, fast food chains and national retailer chains in the markets where SEQR is established. Currently SEQR is established in Sweden, Finland, Romania, Belgium, Portugal, Netherlands, Germany, Spain, France, Italy, UK and US. In 2013, SEQR won the Mobile Money Deployment in Europe. Seamless is traded on Nasdaq OMX Stockholm, under the SEAM ticker. www.seqr.com
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