Seamless obtains money transfer licence from FI. – Offers more payment services with potential for new business
The Swedish Financial Supervisory Authority (FI) has granted Seamless a licence to conduct money transfers. The licence applies to the Seamless company Seamless Remittance AB, which plans to offer payment and remittance services such as international money transfers.
FI’s approval also allows Seamless to offer its services in other EU countries.
“FI’s decision opens up a huge and interesting market for Seamless and our payment service SEQR. The licence allows us to offer competitive solutions compared with banks and international money transfer agents such as Western Union, which enables users to send international payments via their mobile phone, for example. We’re primarily targeting the private market,” explains Peter Fredell, CEO of Seamless.
“Money transfers are a huge market both in Sweden and internationally, with an annual turnover of around 500 billion dollars. And this could prove a significant future business for Seamless,” he continues.
“Many of our international mobile operators have been asking for this type of service. Our own transaction exchange and SEQR make us perfectly placed to quickly build up a business for international payments with a minimum of outlay.”
For further information, please contact:
Peter Fredell, CEO Seamless Distribution AB, Tel. +46 (0)8-564 878 00, email@example.com
Olivera Andersson, Communications Manager, Seamless, Tel. +46 (0)70-660 51 96, firstname.lastname@example.org
Seamless is one of the world’s leading providers of mobile phone payment systems and handles more than 3.1 billion transactions each year via 525,000 active sales outlets. Combined with more than eleven years’ experience and a presence in about 30 countries, this gives Seamless a strong position in the mobile phone payment market. It is the company’s unique transaction platform that makes SEQR possible. Seamless is traded on Nasdaq OMX Stockholm, under the SEAM ticker.
SEQR, developed by Seamless, is the fastest and easiest mobile payments solution currently available on the market. All customers need to do is use the SEQR app to scan a QR/NFC code at the POS terminal and approve the payment by entering their PIN. SEQR works equally well for physical transactions, e-commerce and money transfers, and is both faster and more secure than card payments. The technology behind the solution means that there is no investment cost for retailers. All that is required is a QR/NFC code sticker at the POS terminal and the retailer saves money on each transaction thanks to the very low transaction charges.