Swedish m-commerce software firm Seamless has received authorisation from the country’s financial supervisory authority Finansinspektionen to issue electronic money within the entire European Union /European Economic Area region.
The authorisation means that users of Seamless’ mobile payment platform SEQR can send and receive money, globally, in real time.
Go deeper with GlobalData
SEQR can also be used by minors under the terms of the authorization.
Seamless said money received can be accessed instantly to make payments anywhere in the world where NFC payments are accepted. This service will be available to all SEQR users after the launch.
The company added that it will commence operations involving the transfer of e-money in all 12 European nations where it currently offers its payment solutions.
Seamless CEO Peter Fredell said: "Authorization to issue electronic money is strategically important since it further broadens SEQR’s sphere of application and user audiences. This authorization allows SEQR users to send each other money in real time, independent of banks and regardless of where they are in the world.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalData"One example of how it can be used is that parents can transfer funds to their children’s phones, money that can then be used to make instant purchases in stores all over the world."
