Mobile Commerce

Dwolla/Seamless Team Up On Mobile P2P

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Seamless Distribution AB hasn’t been shy about making aggressive moves in the evolving investor landscape, and its latest action could lead to big changes for the high-margin portfolio owner down to the dime-and-nickel day trader.

Seamless and peer-to-peer mobile payments startup Dwolla announced Friday (Nov. 27) that they had finalized a partnership to establish a P2P money sharing network for clients, to be up and running some time in the first quarter of 2016. Peter Fredell, CEO of Seamless, explained that entering the P2P market makes sense due to the impressive growth seen in the industry lately.

“Money transfers between private individuals is a very popular service in the U.S.,” Fredell said in a statement. “Under the agreement with Dwolla, we can quickly offer SEQR’s U.S. 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 U.S. In parallel with the launch in partnership with Dwolla, we are continuing to secure money transmitter licenses in the U.S. within the scope of our own solution, which will ultimately prove more profitable.”

Mobile World Live reported in early November that Seamless had been on the hunt for external investors looking to jump on board a burgeoning mobile payments platform, though the press release did not touch on any of those elements. Nevertheless, the moves make an honest man out of Fredell, whose comments a month earlier prove that when Seamless pursues a business venture for the good of its clients, its executives are committed to delivering.

“We are evaluating alternatives to fund the growth of SEQR to reduce the burden on our public shareholders and to highlight the hidden value of SEQR, by bringing in the right long-term partners for SEQR,” Fredell told Mobile World Live. “We want Seamless’ shareholders to benefit from continuing ownership of a profitable company, as well as continued equity participation in SEQR. Furthermore, it is advantageous for our current shareholders to obtain an implicit market value of SEQR.”

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