Compelo Banking - Latest industry news and analysis is using cookies

We use them to give you the best experience. If you continue using our website, we'll assume that you are happy to receive all cookies on this website.

ContinueLearn More
Close
Dismiss

Raiffeisen Bank partners with Seamless to offer mobile payment services in Romania

Nasdaq Stockholm-listed Seamless has signed an agreement with Raiffeisen Bank via its SEQR subsidiary.

The agreement marks an initial step by the bank in offering its customers in Romania the possibility of connecting the SEQR Seamless mobile payment solution to their bank accounts.

Austria’s Raiffeisen Bank is one of the leading banks in Central and Eastern Europe, with a presence in 17 national markets.

Seamless CEO Peter Fredell said: "The agreement with Raiffeisen Bank further strengthens our position in Europe. We are seeing a strong increase in demand among European consumers regarding mobile payments.

"By offering its customers the possibility to use SEQR, Raiffeisen Bank and other European banks can meet this need in a manner that is profitable and fast, without the need to build expensive proprietary solutions that take a long time to develop."

SEQR has grown substantially since its launch in Romania in 2013, when an agreement was signed with Garanti Bank.

Already now, it is possible to pay using SEQR in 2,000 places - in person and online. With the new NFC technology - so-called contactless - the number of payment points that accept SEQR will soon increase significantly.

Raiffeisen Bank Value Proposition Directorate Department Manager Florin Boldescu said: "SEQR will be an important part of our customer offering. The demand for paying by mobile is large and growing."