Nasdaq Stockholm-listed Seamless has signed an agreement with Raiffeisen Bank via its SEQR subsidiary. The agreement marks an initial step by the bank in offering its customers in Romania the possibility of connecting the SEQR Seamless mobile payment solution to their bank accounts.
Austria’s Raiffeisen Bank is one of the leading banks in Central and Eastern Europe, with a presence in 17 national markets.
“The agreement with Raiffeisen Bank further strengthens our position in Europe. We are seeing a strong increase in demand among European consumers regarding mobile payments. By offering its customers the possibility to use SEQR, Raiffeisen Bank and other European banks can meet this need in a manner that is profitable and fast, without the need to build expensive proprietary solutions that take a long time to develop,” says Peter Fredell, CEO of Seamless.
SEQR has grown substantially since its launch in Romania in 2013, when an agreement was signed with Garanti Bank. Already now, it is possible to pay using SEQR in 2,000 places – in person and online. With the new NFC technology – so-called contactless – the number of payment points that accept SEQR will soon increase significantly.
“SEQR will be an important part of our customer offering. The demand for paying by mobile is large and growing,” says Florin Boldescu, Department Manager, Value Proposition Directorate at Raiffeisen Bank.
SEQR (se·cure) is Europe’s most used mobile payment solution 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 26 countries, Seamless handles more than 3, 1 billion transactions annually through 525 000 active sales outlets. 6 200 merchants have chosen SEQR including the largest grocery chains, fast food chains and national retailer chains in the markets where SEQR is established. Currently SEQR is established in Sweden, Finland, Romania, Belgium, Portugal, Netherlands, Germany, Spain, France, Italy and US. 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.