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Wallet Database


10th of November 2016


  • Summary: SEQR is an account to account digital wallet for online and in-store (via NFC and QR code) purchases as well as P2P payments on mobile phones. SEQR is operating in multiple markets and was developed by Seamless (a start-up based in Sweden) in 2011. SEQR also enables users to keep the receipts in one place and receive cashback up to 3%.

  • Website

  • Status: Live

  • Market: Sweden (2011), Romania, Finland, Belgium, Netherlands, Germany, France, Portugal, Spain, Great Britain, Austria, Ireland, Malta, Luxembourg, Italy and the USA.

  • Type: Other

  • Ownership: Seamless Distribution AB

  • Functions: Retail and P2P payments

  • Payment Mode: Account to account

  • Channel: POS via NFC and QR code, in-app, WEB

  • Roadmap: SEQR wants to expand its network to as many countries as possible and be in a position to challenge the dominance of cards in electronic payments.

User Experience

  • Registration & set up: App is available on App Store and Google Play. NFC technology is only supported by Android (4.4 or higher) phones which support NFC and HCE. User adds a current account within the app. Savings or credit card accounts are not supported. When user has registered for SEQR, will initially have a purchase limit of £50 (in the case of UK, it can vary from one country to another). User has to add a copy of his ID within the app to verify his identity.

  • Making a payment: NFC payment initiated by tapping the phone against the terminal. No PIN code needed if the purchase is below 20 Euros. Otherwise, authenticate with PIN code. For QR code purchases, app must be open: scanning QR code and authenticating with PIN code; the receipt is saved within the app. For P2P payments, user just has to log in, choose a “friend” from his contact list or add a phone number. User can get up to 3% cashback for his SEQR purchases. User’s bank account is normally debited 2 bank days after a SEQR payment has been executed.

Payment Flows & Technology

  • Merchant perspective: Merchants have to integrate their payment system with SEQR. Any type of shop can be integrated with SEQR, it may be a POS, a webshop, a service, an app, etc. (Update to follow – Further information being obtained)

  • Security: All communication is secured via an encrypted connection to the transaction system, and user’s approval with his personal PIN code whenever making a payment. The downloaded app with a registered account is tied to the specific mobile phone, for example, it cannot be cloned and used on another phone. Sensitive information such as current account number or personal information is not stored on the phone and it will not leave the phone when making a payment.

Business Model

  • Strategy: SEQR operates its own payment network and is completely self-contained, and doesn’t involve payment cards in any way; it can offer much lower processing costs to merchants. SEQR revenue model is a mix of revenue streams: 1% merchant service charge; advertisements in the app (about 30 cents per transaction completed); Digital coupons in the app (SEQR charges a handling fee, between 10% and 30% of the redeemed value of a coupon) from the producers that show coupons in the app; Shop Spot. So in total, SEQR gets a channel margin between 10% and 15%, plus the transaction fee.

  • Payee fee: No subscription fee or monthly costs. Variable fee per transaction.

  • Payer fee: No charge for consumers. 

Performance Data

  • Launch date: Sweden (2011)

  • Closed Date: N/A

  • Users: 600,000 (source:

  • Retailers / merchants: No data yet

  • Transaction volume: No data yet

  • Transaction value: No data yet

  • Other data points: No data yet 

Contact (MobeyForum Members only)

  • Name: N/A

  • Address: N/A

  • Email: N/A

  • Phone: N/A