Seamless rejects patent infringement claim
Stockholm, 2013-10-29 18:45 CET (GLOBE NEWSWIRE) --
According to a press release issued today by Accumulate AB, the company has filed a summons application with the Stockholm District Court against Seamless Distribution AB (OMX:SEAM) regarding patent infringement. Accumulate states that it demands that Seamless ceases to utilize and offer the mobile phone payment solution SEQR.
Seamless has not yet received the summons application. In previous correspondence between Seamless and Accumulate, Seamless has rejected the claims of infringement as unfounded. Seamless standpoint is based on a thorough analysis of Accumulate's patent and its scope.
Seamless intends to announce further information following review of the summons application.
For more information:
Tomas Jalling, General Counsel Seamless Distribution AB, tel. 08-564 878 00, tomas.jalling@seamless.se
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, 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. SEQR is available at Sweden's largest grocery chains, fast food chains and national retailer chains including McDonald's, Hemköp and Ur&Penn. In 2013 SEQR was launched in Romania together with GarantiBank. Seamless is traded on Nasdaq OMX Stockholm, under the SEAM ticker.
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 29 October, 2013 at 6:45 pm (CET).