UNITED KINGDOM | Optimal Payments and Seamless will work together to integrate and launch SEQR (se•cure) as mobile payment solution for consumers and merchants in the United Kingdom. The news follows last week's announcement of Ingenico Payment Services launching the SEQR mobile payment method for the Belgian ecommerce market.
Context: What is the SEQR Mobile Payment Solution?
SEQR is Sweden’s and Europe’s most used mobile wallet in stores and online. 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. The SEQR Mobile Payments Solution is assumed to lower abandon rates, because there is no need to input large amount of data such as the card number, name, expiration date and security codes, known to cause drop outs. Equally important for merchants: the SEQR’s payment solution has lower interchange fees compared to those charged by traditional card companies. SEQR would allow merchants to further reduce transaction costs.
ByPass Card Companies
SEQR's proprietary technology makes it possible to bypass the card companies and offering merchants and consumers a unique, cheaper, quicker and safer payment solution. Consumers all over the Euro area can authorise SEQR to debit their bank account when paying with SEQR, regardless of bank. Since its launch in 2012, 5200 merchants have chosen SEQR which is live in Sweden, Finland and Romania. SEQR will also be launched to consumers in Belgium in September of this year.
Optimal Payments + SEQR
"The United Kingdom is one of our target markets and we are very excited to work with leading online payment expert Optimal Payments to launch our services to merchants and consumers there," said Peter Fredell, CEO, Seamless. "The UK will be the initial market in which we launch our integrated general purpose, reloadable, prepaid SEQR account within our mobile payment app. We are delighted to be offering it to UK-consumers first."
Optimal Payments Profile
Optimal Payments is a global provider of online payment solutions, trusted by businesses and consumers in over 200 countries and territories to move and manage billions of dollars each year. Merchants use the NETBANX(R) platform and services to simplify how they accept credit and debit card, direct-from-bank, and alternative and local payments; and the NETELLER(R) service to increase revenues and capture new customers. For more information on Optimal Payments visit www.optimalpayments.com.
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. For more information on SEQR visit www.seqr.com.