Seamless concludes deal with Russian bank

Partner with Ural Bank.

Seamless has signed an agreement with one of Russia’s largest regional banks, Ural Bank to launch the mobile payment service SEQR in the Russian market.

The Ural Bank based in Yekaterinburg is one of Russia’s five largest regional banks and operates mainly in the Sverdlovsk region. Part of bank’s strategies for the coming two years is to double its active customers and to position the bank as a reliable financial institution with modern high quality products and services.

“The Russian market is not only one of the largest but also one of the most attractive, as credit card penetration is so low there. There is therefore considerable interest in supplementing costly cash management systems with payments by mobile phone,” says Peter Fredell, CEO of Seamless and continues: “SEQR has previously concluded agreements with financial institutions in Sweden, Finland, Norway, Kuwait, Belgium, Rumania and Malaysia. Since being launched in Sweden in 2012, it has been possible to pay via SEQR in thousands of stores, with an additional 3,500 stores contracted for roll-out. In October, SEQR was launched in Romania in partnership with Garanti Bank and a launch in collaboration with bpost bank in Belgium is planned in spring 2014.”

Related reading

Leave a comment