When McDonald’s in Belgium will start its roll out of SEQR in June it will be the first market where Seamless will utilize the SEPA (Single Euro Payments Area) payment infrastructure. This will enable consumers to connect SEQR to their bank account for debit payments, regardless of which bank they hold an account.
- The launch with McDonald’s with the SEPA initiative is a landmark in SEQR:s development. This is the first time that we route payments exclusively through SEPA. Consumers all over the Euro area can authorize access to debit their bank account when paying with SEQR, regardless of bank, Seamless CEO Peter Fredell said.
SEPA Direct Debit is a pan-European Direct Debit system that allows merchants to collect Euro denominated payments from accounts in 34 SEPA countries. Seamless has specifically adapted their own developed payment solution to utilize SEPA. This enables a faster international expansion of SEQR in the Euro area.
- We are really glad that SEQR has enhanced their technology even further to utilize the SEPA initiative; for McDonald’s this means that all of our guests now, regardless of where they have a bank account, can pay and utilize all the features with SEQR when visiting our restaurants, says Communications & Public Affairs Manager Kristel Muls at McDonald's
The SEQR technology bypasses the card networks and takes out intermediaries while leaving the consumer in control of his/her money. The consumer authorizes Seamless to debit their bank account when making a mobile payment with SEQR and the merchant will be paid the next business day.
For more information: Cecilia Lago Albright, media contact Seamless, + 46 707 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 June 4th, 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 in Finland in 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
