Seamless Distribution AB (publ) Annual Report 2016

A FEW WORDS FROM THE CHAIRMAN

2016 continued to build on the strong current trend underway for Seamless. All of our business divisions reported improved net revenues which resulted in total group revenues growing by 27% compared with 2015.

Our business area Seamless Distribution Systems (SDS) increased sales by 6% to 96 MSEK and net earnings increased by 22% to 33.1 MSEK, compared with 2015. The favorable development of the company continues with new additions to our product portfolio combined with a strong order pipeline in our traditional product mix.

Several important developments took place during the year in the Seqr business. One of the most notable developments is that Seqr users can now pay with Seqr all over the world, wherever NFC enabled (contactless) card terminals exist. The development of this new technology meant that our acceptance network went from a few tens of thousands of stores to approximately 35 million Point-Of-Sales (POS) overnight. This development also removed Seqr’s largest bottleneck which has been our limited acceptance network, and also means that Seqr doesn’t have to continue to negotiate bilateral agreements with merchants in order to grow its acceptance network. If you, as a merchant, accept MasterCard, you accept Seqr.

Seqr also acquired the Norwegian company MeaWallet. MEA is a software company which has developed turn-key solutions for card issuers wanting to issue virtual cards through a mobile device. This is strategically important technology as we believe that in the future every existing and new card issuer in the world will embrace virtual card issuance through various mobile electronic devices. Currently, there are only a limited number of companies that can offer this technology, which gives a MEA (and by extension, Seamless) a favorable competitive environment.

2017 promises to be a very exciting year in which the technology and market trends would appear to support strong growth for this year and the future.

 
Contacts

For further information, please contact:
Peter Fredell, CEO
peter.fredell@seamless.se
+46 8 564 878 00
 

Tags:

About Us

Seamless is a global mobile payments company that provides electronic top-up systems and mobile payment services for mobile operators, distributors, retailers and consumers. Founded in 2001 and active in 35 countries, Seamless handles more than 5.3 billion transactions annually through 675,000 active sales outlets. Seamless has four main business areas: 1. Seamless Distribution Systems: Platform enabling digital distribution for Service Providers2. Seamless eProducts: Technology provider for distribution of physical and electronic products3. Seqr: Mobile Payment Platform4. MeaWallet: Provider of Host Card Emulation (HCE) and tokenization platform Seamless is truly an international company with customers all over the world. Our ambition is to be close to our customers, therefore, we have global sales, support and operations in Sweden, India, UAE, Pakistan, Ecuador, Belgium and Ghana, etc.In the last decade, we emerged as a trusted supplier and partner with technical excellence, business knowledge and commercially viable solutions. Our customers and long standing partnerships hold testimony to the quality of our product offerings and the efficiency of our services. As we move into the future, we aspire to continue exploring new grounds in mobile technology and introduce path-breaking products.

Subscribe

Documents & Links