Swedish m-commerce software firm Seamless has signed an agreement with payment processing firm Dwolla to enable peer-to-peer (P2P) money transfers using its SEQR digital payment system.
The companies are planning to launch the P2P payment system in the first quarter of 2016.
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Under the partnership, SEQR will use Dwolla’s infrastructure to offer P2P payments in the US before having its entire money transmitter licences approved.
Seamless CEO Peter Fredell said: "Money transfers between private individuals is a very popular service in the US. Under the agreement with Dwolla, we can quickly offer SEQR’s US 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 US."
"In parallel with the launch in partnership with Dwolla, we are continuing to secure money transmitter licenses in the US within the scope of our own solution, which will ultimately prove more profitable," he added.
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By GlobalData
