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Alternative Payment Solution: Seqr

Alternative Payment Solution: Seqr

  • March 2018
  • 17 pages
  • ID: 5257671
  • Format: PDF
  • By GlobalData

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Alternative Payment Solution: Seqr

Summary
Seqr is a Sweden-based mobile payment solution developed by Seamless in 2011. Initially launched as a QR code-based in-store payment solution, it was later extended to include P2P transfers and online, in-app, and contactless payments.

It allows users to make both in-store and online payments by scanning QR codes displayed at merchant counters or webstores with a mobile phone.Users can also make NFC payments by holding their phone near POS terminals, even if the merchant has no direct contract with Seqr.

These payments are now accepted at approximately 30 million POS terminals worldwide.

Seqr received an e-Money License from the Swedish Supervisory Authority in 2016, enabling it to issue electronic money.Users are offered a default prepaid Seqr Account within the Seqr app, allowing them to load and hold funds.

Seqr users can transfer funds in their account to each other in real-time within Sweden and abroad. Seqr is now available in 16 markets globally and is supported by various banks in those markets, including SEB, Swedbank, Danske Bank, Skandia, Handelsbanken, Nordea, Garanti Bank, Raiffeisen Bank, and bpost banque.

In December 2017, Seamless changed its trade name to Invuo Technologies AB. Subsequently, Invuo Technologies AB sold its Seqr business to Swedish company Glase FinTech AB in order to remain focused on business-to-business payment solutions.

The report provides information and insights into alternative payment solution Seqr, including -
- Detailed insight into its business and geographical presence
- Comprehensive coverage of its products and services
- Comparative assessment with key alternative payment solutions
- Information on its performance, including its revenue model
- The company’s important events and milestones.

Scope
- Seqr was launched by Swedish mobile payments company Seamless in Sweden, allowing users to make in-store payments by scanning QR codes with their mobile phone.
- Seqr offers the ‘Shop Spot’ service, which allows merchants to include a QR code within their print, media, or billboard advertisements.
- In November 2016, Seqr launched P2P money transfer service across 14 European countries.
- In December 2017, Seamless changed its trade name to Invuo Technologies AB. Subsequently, Invuo Technologies AB sold its Seqr business to Swedish company Glase FinTech AB.

Reasons to buy
- Gain insights into Seqr’s business operations, and key events.
- Gain insights into its product portfolio and revenue model.
- Assess the competitive dynamics in the alternative payments industry by comparing its performance against competitors.

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