MeaWallet Signs New Agreement With Norwegian Bank

STOCKHOLM, Nov. 9, 2017 /PRNewswire/ -- MeaWallet A/S ("MeaWallet"), part of Seamless Distribution AB ("Seamless"), has signed an agreement with a Norwegian bank for delivery of the Mea Token Platform.

Deploying the Mea Token Platform, which is integrated to Mastercard Digital Enablement Service (MDES), will enable the bank's customers to make smartphone payments in store, in app or on line, via any of the OEM Pays (i.e. Apple Pay, Samsung Pay, Fitbit Pay etc.). With a single point of integration to the Mea Token Platform, the bank will open up all of the OEM Pays to its customers. This is the first time MeaWallet deploys a purely OEM Pay solution. The solution will be delivered as a managed service from MeaWallet's data centre in Switzerland.

The order value of the contract is within the normal range for single card scheme setups provided by MeaWallet, i.e. between 200,000 and 350,000 Euro over a three-year period.

"As a Norwegian company, signing a domestic bank is a huge validation of MeaWallet's offering and an important reference as MeaWallet builds a strong pipeline of international customers. Moreover, order wins at MeaWallet are critical in underpinning our shareholders' confidence in the company", says Tomas Jalling, CEO in Seamless.

Lars Sandtorv, Head of MeaWallet states: "This is a new use case for our MeaWallet Token Platform, and we see huge potential in opening up OEM Pays for other banks. MeaWallet is being rewarded for its focus on product and technology as well as its agility and ability to adapt to changes in the market and customer needs. We will continue on this path in order to stay at the forefront of the payments market". Sandtorv continues: "This is our first Norwegian customer, which makes me particularly happy since we are a Norwegian company from the beginning. By selecting the Mea Token Platform, the bank now gets a product suite, and a partner, that will meet the bank's current and future payments technology requirements."

The Mea Token Platform provides a single API-based connection to network token service providers (such as MDES from Mastercard and VTS from Visa), and an easy-to implement mobile SDK. Mastercard has certified the MeaWallet product suite to gold level, a certification level only awarded to fifteen other companies world-wide.
 

For more information, please contact: 
Martin Schedin
CFO Seamless
[email protected]
+46-8-564-878-00

Lars Sandtorv
Head of MeaWallet
[email protected] 
+47-909-55-111 

This information is information that Seamless Distribution AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. This information was submitted for publication, through the agency of the contact person set out above, at 8:50 a.m. CET on November 9, 2017.

About Seamless
Since 2001 Seamless has been providing its proprietary solutions and systems for mobile phone transactions. Seamless operates in two main business areas; mobile phone payment solutions, provided through the brand MeaWallet™, and distribution of e-products. www.seamless.se

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SOURCE Seamless Distribution AB