NEW YORK, Nov. 19, 2014 /PRNewswire/ -- Newtek Business Services Corp. [NASDAQ: NEWT], The Small Business Authority®, announced today that its majority-owned subsidiary, The Secure Gateway, has entered into a three-year agreement to partner with SEQR, by Seamless (OMX: SEAM). Developed by Seamless, one of the world's largest suppliers of payment systems for mobile phones, SEQR is Sweden's and Europe's most used mobile payment solution in stores and online. Through this partnership, Newtek will support SEQR's advance into the U.S. market through the utilization of The Secure Gateway's transactional switch and proprietary gateway as the platform of choice for all U.S. ACH transactions. In addition, the agreement secures one of the top ten largest depositary banks in the U.S. to connect SEQR to all U.S. banks and the ACH network. This partnership will enable Newtek to provide its small- and medium-sized business merchants with a seamless and secure payment platform and solution, and eliminate interchange fees charged by traditional credit card companies.
Barry Sloane, Chairman, President and Chief Executive Officer of Newtek Business Services Corp. said, "We are excited about partnering with SEQR, developed by Seamless, which will enable us to deliver a secure, cost-effective, end-to-end payments platform and solution to merchants and their customers, as well as our U.S. Banking relationships and, as a result, support the continued growth of SEQR."
Mr. Sloane continued, "SEQR's approach in the payments space has seen unbridled success in Europe, allowing them to become Sweden and Europe's most used mobile payment solution in stores and online, and offers a valid and tested market alternative within the ever-changing U.S. payment's landscape. The Secure Gateway's platform in concert with SEQR will satisfy a multitude of needs for both large and small merchants as they adopt mobile payments, seek more cost-effective solutions than traditional credit and debit cards, require buying behavior data and, loyalty and rewards support to grow and retain new customers. Our three (3) year agreement with SEQR will enable us to offer the small and medium-sized independently owned business market the same level of state-of-the-art, cost-effective, secure mobile payments that big-box retailers currently enjoy."
"The agreement gives us a very strong and diversified partner in the United States that serves as our prime technology partner in ACH transaction processing as well as the strength of one of the top ten largest depositary banks in the U.S. for our U.S.-based merchants and their customers. This is a statement to merchants we are in dialogue with that we are rapidly making SEQR in the U.S. market a reality", said Peter Fredell, CEO of Seamless, provider of SEQR.
About Newtek Business Services Corp.
Newtek Business Services Corp., The Small Business Authority®, is the Authority for the small- and medium-sized business (SMB) market providing a wide range of business services and financial products under the Newtek® brand. Since 1999, Newtek has provided state-of-the-art, cost-efficient products and services and efficient business strategies to over 100,000 business accounts across all 50 States to help them grow their sales, control their expenses and reduce their risk.
Newtek's products and services include: The Newtek Advantage™, Electronic Payment Processing, The Secure Gateway, Managed Technology Solutions (Cloud Computing), eCommerce, Business Lending, Insurance Services, Web Services, Data Backup, Storage and Retrieval, Accounts Receivable Financing, and Payroll.
The Small Business Authority® is a registered trade mark of Newtek Business Services Corp., and neither are a part of or endorsed by the U.S. Small Business Administration.
ABOUT SEQR, by Seamless
SEQR (se·cure) is Europe's most used mobile payment solution in stores and online. SEQR enables anybody with a smartphone to pay in stores, at restaurants, parking lots and online, transfer money at no charge, connect loyalty programs, store receipts digitally and receive offers and promotions directly through one mobile app. Through the SEQR app, the user simply scans or taps a QR-code/NFC at check-out and approves the purchase by entering a PIN code. Fast, smooth and safe, SEQR's payment solution enables merchants to lower interchange fees significantly compared to those charged by traditional card companies. SEQR's unique transaction platform has been developed by Seamless, one of the world's largest suppliers of payment systems for mobile phones.
Founded in 2001 and active in 26 countries, Seamless handles more than 3,1 billion transactions annually through 525 000 active sales outlets. 6 200 merchants have chosen SEQR including the largest grocery chains, fast food chains and national retailer chains in the markets SEQR where is established. SEQR was launched in Romania in 2013, in Finland and Belgium in 2014 and is scheduled to launch in Portugal in 2014. In 2013, SEQR won the Mobile Money Global Award for Best Mobile Money Deployment in Europe. Seamless is traded on Nasdaq OMX Stockholm, under the SEAM ticker. www.seqr.com
Note Regarding Forward Looking Statements
Statements in this press release including statements regarding Newtek's beliefs, expectations, intentions or strategies for the future, may be "forward-looking statements" under the Private Securities Litigation Reform Act of 1995. All forward-looking statements involve a number of risks and uncertainties that could cause actual results to differ materially from the plans, intentions and expectations reflected in or suggested by the forward-looking statements. Such risks and uncertainties include, among others, intensified competition, operating problems and their impact on revenues and profit margins, anticipated future business strategies and financial performance, anticipated future number of customers, business prospects, legislative developments and similar matters. Risk factors, cautionary statements and other conditions, which could cause Newtek's actual results to differ from management's current expectations, are contained in Newtek's filings with the Securities and Exchange Commission and available through http://www.sec.gov.
Newtek Business Services Corp.
Contact: Jayne Cavuoto
Telephone: (212) 273-8179 / [email protected]
Contact: Brett Maas
Telephone: (646) 536-7331 / [email protected]
Contact: Simrita Singh
Telephone: (212) 356-9566 / [email protected]
Kenneth Douglas, Senior Vice President, SEQR USA, Inc
Elin Hammarberg, Press Contact, Seamless
+46-725 533 533
SOURCE Newtek Business Services Corp.