Seamless to launch SEQR mobile payment solution in Middle East

Press Release   •   Jun 17, 2013 09:00 GMT

Kuwait International Bank and McDonald's are initiating a partnership with Seamless concerning the pilot launch of the SEQR mobile payment solution in the State of Kuwait in the Middle East.

With this agreement with Seamless, Kuwait International Bank will be the first financial player in the Middle East to choose SEQR as a mobile payment solution. This will give consumers the opportunity to make easy, quick, secure payments using their mobile phones, while also allowing merchants to reduce their transaction costs.

"We are very much looking forward to working with Kuwait International Bank to introduce SEQR on the Kuwaiti market. As well as being in a very intensive phase of expansion for SEQR on an international level, Seamless has already been established in countries worldwide. This means that we have the experience required for international setups," says Peter Fredell, Group President and CEO of Seamless.

Paying by SEQR is extremely easy. All customers need to do is to use the SEQR app to scan a QR/NFC code at the POS terminal and then approve the payment by entering their PIN. All customer receipts are also collected on their mobile phones.

"The launch of SEQR on the Swedish market has been very successful, and we hope that our partnership will help to make life simpler for many consumers in Kuwait," says Peter Fredell.

About Seamless

Seamless is one of the world's leading providers of payment solutions for mobile phones, handling more than 3.1 billion transactions each year via 525,000 active sales outlets. Combined with over eleven years' experience and a presence in 26 countries, this gives Seamless a strong position in the market for mobile payments. It is the company's unique transaction platform that enables SEQR. Seamless is traded on Nasdaq OMX Stockholm, under the SEAM ticker.

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 and in the spring of 2014 SEQR will be launched in Belgium together with bpost bank. Seamless is traded on Nasdaq OMX Stockholm, under the SEAM ticker.