Seamless: Record Breaking Deal for Mobile Payments in Sweden - Axfood Chooses SEQR for Its Entire Retail Business

STOCKHOLM--(BUSINESS WIRE)--

Seamless – listed on OMX Nasdaq – has concluded a record breaking deal with its SEQR mobile payment system. Axfood, the third largest retailer in Sweden, will be offering SEQR for their chains Hemköp, Willys and PrisXtra in approximately 360 stores. In addition to the stores that Axfood owns directly, the agreement also provides terms and conditions and a framework for the 117 Hemköp stores that are franchised. These stores can easily connect to the system at any time. Roll-out to the stores is expected to be completed by the end of 2012.

“The contract is by far the largest switch to mobile payments in Sweden, and one of the largest in the world. It shows that the customers appreciate how simple and convenient it is to pay with SEQR. The solution means that Axfood can avoid the high fees charged by the card companies without any investment. The very fast roll-out time also shows clearly how easy it is for the retailer to introduce SEQR,” says Peter Fredell, President and CEO of Seamless.

SEQR is a very simple app with which to make payments. The customer simply scans the QR code at the checkout and then approves the payment by entering their PIN. In addition to the unsurpassed security of the system, the customer gets the full receipt saved in the mobile phone and can also transfer money to other mobile phones.

“The system has worked perfectly during the test, and both customers and checkout staff are positive,” says Anders Quist, Head of Business Development at Axfood. The agreement means that Seamless will be receiving revenues from Axfood during the fourth quarter.

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 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.

www.seamless.se

About SEQR

SEQR, developed by Seamless, is the fastest and easiest mobile payments solution currently available on the market. The customer simply uses the SEQR app to scan the QR code at the checkout and approve the payment by entering their PIN. SEQR works just as well for physical transactions as for e-commerce, and is both faster and more secure than card payments. The technology behind the solution requires no investment by retailers – all that is required is a QR code sticker at the checkout. In addition, the low transaction charges reduce costs for the retailer.

www.seqr.se – Twitter:@seqrse– facebook.com/seqrse

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