Every year Swedish merchants have costs of over 10 billion SEK ($1, 5 billion) due to card transactions, of which 7 billion ($1 billion) is direct card fees to banks. An unnecessary high cost that hit both companies and consumers. As part of the work to challenge the banks and offer alternative payment solutions to lower costs, the Swedish Trade Federation has signed a frame agreement with the mobile payment solution SEQR.
In a recent study by HUI Research*, 90% of the merchants stated that card fees is one of the largest expenses. The agreement gives the 12 000 members of the Swedish Trade Federation the possibility to cut their transaction fees in half.
- By challenging the dominance of the big four banks, we want to reduce costs for our members and increase the competition on the payment market. Paying with your mobile is faster, cheaper and has a range of different added values compared to cards. Therefore we have signed a frame agreement with SEQR and hope that it will be a member benefit that can lower the cost and increase the customer experience for our member companies, says Bengt Nilervall, Head of Payment Systems, The Swedish Trade Federation.
Thanks to SEQR:s use of QR-codes, in combination with cashier integration, merchants can quickly get started with mobile payments without any investment. The stores only need to display a QR-code at checkout and the integration is done to the existing POS system. A national chain can be up and running in only a few days.
– We are very glad that the Swedish Trade Federation, being one of Sweden’s largest trade organizations, have chosen to sign an agreement with us. In addition to the saving in cost, we can offer merchants a new dedicated mobile ad platform that reaches the right audience at the time of purchase. An important function that builds customer loyalty and drives in-store traffic, says Peter Fredell, CEO Seamless that provide SEQR. ***For mages of Bengt Nilervall, Swedish Trade Federation and Peter Fredell, CEO, Seamless contact Cecilia Lago Albright or visit www.mynewsdesk.com/seqr *HUI Research report "Vad kostar korten"
For more information: Peter Fredell, CEO Seamless, peter.fredell@seamless.se ,+46 8 564 878 00 Cecilia Lago Albright, Media contact Seamless, cecilia.albright@seamless.se 0707-431345 Bengt Nilervall, Head of Payment Systems, The Swedish Trade Federation, Bengt.Nilervall@svenskhandel.se , 073-8018544
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 May 14th, 2014 at 07.50 am (CET).
