Provider of the mobile payment solution SEQR, Seamless announced that it has partnered with Newtek Business Services’ majority-owned subsidiary, The Secure Gateway, according to a company release.
According to the release, The Secure Gateway’s proprietary gateway will be the platform of choice for all U.S. ACH transactions. The partnership will therefore enable Seamless’ US subsidiary, SEQR USA, Inc. to grow its business in mobile payments and penetrate the U.S. market.
SEQR USA is also one step closer to launching its product to U.S. consumers thanks to the completion of a banking ODFI/ACH arrangement with a “Top Ten U.S. Money Center Bank” that now connects SEQR to all U.S. banks and the ACH network.
“This is a statement to merchants that we are rapidly making SEQR in the U.S. market a reality,” said Seamless CEO Peter Fredell in the release.
Chairman, CEO and President of Newtek Business Services, Inc. Barry Sloane added that the partnership with SEQR will allow them to “deliver a secure, cost-effective, end-to-end payments platform and solution to merchants and their customers.”
The SEQR technology is based on the transaction switch develop by its parent company Seamless. The switch bypasses the credit card infrastructure and handles payments “on its own rails.” It works with iOS, Android and Windows, and consumers have the option to use either QR codes or NFC to make payments.