Breakthrough order for Mobile Money solution - Seamless sells Mollet™ in Zimbabwe

Seamless - traded on NASDAQ OMX First North - has entered into an agreement
with an independent service provider to introduce a solution for Mobile Money
in Zimbabwe*. It is a long term co-operation and is based on revenue share. The
implementation of the solution will be started immediately and is expected to
be finalized early second quarter 2011. 

In effect 12 million people in Zimbabwe lack access to basic bank services.
With the implementation of Mollet™ they will be provided these services -
besides deposits, withdrawals and purchases through the mobile it will also be
possible to transfer money to other mobiles through the digital account
provided in the Mollet™ system. Today 40 percent of the adult population in
Zimbabwe has a mobile phone and usage is in strong growth, since 2008 the
number of mobile users has more than tripled. The corresponding number for bank
accounts is 10 percent and declining. 

“It's a joy to be able to offer a mobile solution that gives people access to
bank services we in the western world take for granted” says Rohit Bhatia, CEO
of Seamless and continues: 
“A mobile wallet will make life more convenient and reduce the costs for the
average Zimbabwean. By having the money in a secure system linked to the mobile
will not only make the everyday life easier, the risk of carrying cash is also
reduced.” 

For more information, please contact:
Deepali Velayuthan, Director - Mobile Money
Mobile +91 9619060733, deepali.velayuthan@seamless.se
or
Joakim Nordblom, Communications Manager
Mobile +4670 541 3000, joakim.nordblom@seamless.se

Full press release in attached PDF.