Seamless delivers contactless payment solution to a Hungarian Bank

MeaWallet A/S (“MeaWallet”), part of Seamless Distribution AB, has signed an agreement with a Hungarian bank for delivery of MeaWallet’s proprietary technology for contactless card payments.

The technology will be delivered as a managed service, integrating MeaWallet´s tokenisation platform with the bank’s banking application. The solution will enable the bank’s clients to perform contactless card payments through the bank´s existing banking application.

- The Hungarian market is rapidly developing towards contactless payments, in fact already last year the number of contactless in-store transactions exceeded the number of traditional transactions. We aim to start the delivery in the third quarter and be in production early next year, delivering on our “short time to market” promise, says Lars Sandtorv, Head of MeaWallet.

The bank is one of the major banks in Hungary, a market where more than half of the payment cards in use have contactless capabilities.

For further information, please contact:
Lars Sandtorv, Head of MeaWallet, ls@meawallet.com, +47 90955111

Martin N. Larsson, Head of Treasury/IR, martin.larsson@seamless.se, +46 8 564 878 00.

This information is information that Seamless Distribution AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. This information was submitted for publication, through the agency of the contact person set out above, at CET 08:50 on August 9, 2017.

About Seamless
Since 2001 Seamless has been providing its proprietary solutions and systems for mobile phone transactions. Seamless operates in two main business areas; mobile phone payment solutions (provided through the brands SEQR© and MeaWallet™) and distribution of e-products. www.seamless.se

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About Us

Founded in 2001 (and previously named Seamless Distribution), Invuo Technologies is a mobile payments technology company, which provides innovative B2B mobile payment services and electronic top-up systems for the financial industry, mobile operators and retailers. Our goal is to maximise value for shareholders while making positive contributions to the technology sphere.

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