SEQR Launches Contactless Payments

European mobile payment solutions provider SEQR, provided by Seamless of Sweden, announced yesterday (Oct. 27) that it will enable merchants to accept NFC payments in the first quarter of 2016.

“Our NFC technology will enable merchants to quickly get up and running with our suite of mobile payment solutions,” Peter Fredell, CEO of SEQR, said in a press release.

“Handling more than 3.7 billion transactions annually through 575,000 active sales outlets all over Europe, the NFC feature will add tremendous value to both merchants and customers as any card terminal that can accept Apple Pay will also be able to accept SEQR,” Fredell explained.

The launch of the SEQR NFC solution will enable consumers to use contactless payments in millions of stores and points of sale, SEQR said, noting that its more than 6,200 merchants will have the opportunity to increase sales and customer loyalty while reducing transaction fees.

By the end of 2015, the number of payments terminals equipped with NFC capabilities is expected to hit 24 million, presenting a large opportunity to providers facilitating mobile payments at the point of sale.

Regarded as the most used mobile wallet in Europe, SEQR also lets advertisers and merchants quickly get data on where and when consumers shop through its Shop Spot feature.

The data gathered can be used to adapt their messaging, channels and platforms for sales campaigns, ultimately transforming media into its own sales channel.

“Media represents a bigger point of contact towards consumers than physical shops and eCommerce together,” Fredell said in an interview with PYMNTS earlier this year, adding that media turning into a direct sales channel will have a huge impact on its revenue models, and “increase the conversion rate from ad to actual purchase.”

To check out what else is HOT in the world of payments, click here.