SEQR gets its first MTL in US


Seamless’ (OMX:SEAM) mobile payment service SEQR, which a couple of weeks ago launched its mobile payment services in US, allowing users to pay with their smartphones at retail and online merchants, now acquires its first Money Transmitting License in the state of Missouri.

The company has during the past years structured several strategic partnerships in US, while integrating its platform to the US Banking ACH system. This allows the company to offer its merchants and users a significantly enhanced shopping experience, driven by increased transaction speed, increased loyalty, lowered fraud and significantly lower cost associated with the transaction. Now it’s time for the next step in the roll-out through obtaining the first MTL.

“It’s a great step that we have the first MTL in place as the MTLs allow us to offer the full range of features also on the US market. For example MyShop which enables the user to create and distribute their own classified ads in addition to use SEQR P2P services, which works both nationally and internationally, and simplifies the everyday life of millions of Americans” says Peter Fredell, CEO of Seamless.

“We are excited together with our partners and clients to further strenghtening our product offering in US. This important step in our expansion, positions ourselves as a true leader in the Mobile Payment Solution space,” says Daniel Bessmert, GM of SEQR USA.

During the past year Seamless prepared and submitted MTL applications for a majority of the states. Now, with the first MTL being approved the expectations are that the rest of them will be approved within the next coming twelve months.