Seamless, listed on Nasdaq Stockholm, has concluded an agreement with Dwolla, a US company offering a new and innovative payment platform.
The agreement will enable money transfers between private individuals, also known as peer-to-peer, across the US via the digital payment solution SEQR. It is expected that the launch of peer-to-peer in the North American market, supported by Dwolla, will take place in the first quarter of 2016.
Dwolla’s payment platform provides SEQR with the opportunity for a rapid roll-out of peer-to-peer payments. By utilising Dwolla’s infrastructure SEQR is able to launch peer-to-peer in the US ahead of having all of its own money transmitter licenses approved.
“Money transfers between private individuals is a very popular service in the US. Under the agreement with Dwolla, we can quickly offer SEQR’s US customers a peer-to-peer service which is something our customers in Europe already make great use of. Peer-to-peer is growing rapidly in the US,” says Peter Fredell, CEO of Seamless, and continues:
“In parallel with the launch in partnership with Dwolla, we are continuing to secure money transmitter licenses in the US within the scope of our own solution, which will ultimately prove more profitable.”
This is the type of information that Seamless Distribution AB (publ) is required to disclose pursuant to the Securities Market Act and/or the Financial Instruments Trading Act. The information was submitted for publication on November 27, 2015 at 07:50 a.m. (CET).
Contributed | what does this mean?