SEQR launches international remittance service – India and Thailand are launch countries

Nasdaq Stockholm-listed Seamless’s mobile SEQR payment solution launches its
recently announced international remittance service. SEQR users can now make
international money transfers – or “remittances” – to non-SEQR users.
SEQR customers can already transfer money to one another across the 16 countries
where SEQR is available.  The new service enables SEQR customers to transfer
money outside of these countries. Transfers from Sweden directly to India and
Thailand will be the first deployment of the service.

The market for international remittance services is vast with approximately
$600bn remitted globally on an annual basis, at an average cost of 7.52% of the
transferred amount.

“Demand for international transfers is constantly growing as the movement of
people becomes increasingly global. India, one of SEQR’s launch corridors,
received 12% of the total remitted volume globally so it makes perfect sense for
SEQR to start here, offering a convenient solution to the Swedish market that is
considerably cheaper than traditional remittance services,” says Peter Fredell,
CEO of Seamless, adding:

“Following the launch of India and Thailand we intend to rapidly expand the
number of countries to which SEQR’s customers can transfer money.”

For a promotional period, international remittances via the SEQR solution will
initially be free of charge.
For more information, please contact:
Peter Fredell, CEO Seamless, +46 8 564 878 00, peter.fredell@seamless.se
About SEQR

SEQR enables anybody with a smartphone to pay in stores, at restaurants, in
parking lots and online, to transfer money at no charge, store receipts
digitally, connect loyalty programs, and receive offers and promotions directly
through one mobile app. The user simply uses the SEQR app to scan a QR code at
the check-out and enters a PIN code to approve payment. Fast, safe and
convenient. SEQR is also NFC compatible. The proprietary technology makes it
possible for merchants to half the transaction fees charged by traditional
credit-card companies. SEQR is developed by Seamless, one of the world’s leading
suppliers of payment systems for mobile phones. Founded in 2001 and active in 26
countries, Seamless handles more than 3.7 billion transactions every year
through 575,000 active sales outlets.

SEQR rests on the proprietary transaction platform developed by Seamless. Some
6,200 merchants have chosen SEQR. In Sweden, the solution can be used for
purchases at Hemköp, Willys, Tempo, McDonald’s, Ur&Penn, MyWay, Webhallen and
Apotek Hjärtat. SEQR is established in Sweden, Finland, Romania, Belgium,
Portugal, the Netherlands, Germany, Spain, France, Italy, the UK and the US. In
2013, SEQR was won the Mobile Money Global Award for Best Mobile Money.