Seamless mobile wallet SEQR receives significant patent - Swedish Patent and Registration Office approves core patent on secure mobile payments
The Swedish Patent and Registration Office (PRV) has granted Seamless (OMX: SEAM) a Swedish patent for the company's own developed solution for secure mobile payments. The patent relates to fundamental technology in Seamless payment solution SEQR.
Since the launch in 2012, SEQR has quickly earned both merchants and consumers approval and is today Europe's most used mobile wallet in physical store market space.
- This patent gives us an important protection of our technological solution. Previously we have been subject to unfounded accusations on patent infringement. By approving this patent, PRV confirms that previous patents regarding mobile payment solution are no obstacles for granting Seamless a patent for its own developed solution, says Peter Fredell, CEO Seamless.
The decision to grant Seamless patent has today been announced in the Swedish journal Svensk Patenttidning.
Press contact:
Cecilia Lago Albright, press contact 0707-431345 / Cecilia.albright@seamless.se
Peter Fredell, CEO Seamless, +46 8 564 878 00, peter.fredell@seamless.se
This information is such information that Seamless Distribution AB (publ) is required to disclose pursuant to the Swedish Securities Market Act and/or the Swedish Financial Instrument Trading Act. The information was released for publication on March 11, 2014 at 07.50 am (CET).
ABOUT SEQR, by Seamless
SEQR (se•cure) is Sweden's and Europe's most used mobile wallet 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 30 countries, Seamless handles more than 3, 1 billion transactions annually through 525 000 active sales outlets. 4 600 merchants have chosen SEQR including Sweden's largest grocery chains, fast food chains and national retailer chains including McDonald's, Hemköp and Ur&Penn. SEQR was launched in Romania in 2013 and is scheduled to launch in Finland and Belgium in the spring of 2014. In 2013, SEQR won the Mobile Money Global Award for Best Mobile Money Deployment in Europe. Seamless is traded on Nasdaq OMX Stockholm, under the SEAM ticker. www.seqr.com