GarantiBank and Seamless introduce SEQR in Romania - the newest mobile payment solution

Free for customers
Clients with a GarantiBank account can easily pay through SEQR’s easy, fast and safe mobile payment solution
SEQR enables retailers to cut their transaction costs in half compared to other payment methods, which means profitability from day one.
 
Bucharest, October 22^nd, 2013 – As of today, the mobile payment solution SEQR is active and available for use on the local market. The application is developed by Seamless, one of the world’s leading providers of mobile phone payment solutions, and is launched together with GarantiBank, one of the most innovative banks on the market. SEQR is an application that enables customers to pay with their smartphone in stores, restaurants and online. Currently, it is the easiest, safest and most convenient payment solution in Romania.
Available for free for iPhone and Android, the application connects the user’s current GarantiBank account to the retailers’ cash register or online system via a QR code. GarantiBank is the first financial institution to make SEQR available in Romania.
 
How SEQR works:
1. Scan the QR code displayed at the shop cash register or e-commerce website
2. Approve the transaction inserting the PIN code
3. View receipt. All receipts and the payment history are saved digitally on the phone
 
SEQR is a convenient payment solution, providing benefits to both consumers and retailers:
 For consumers:
o Free of charge, easy to register and easy to use

o Real time balance of GarantiBank account(s) and digital receipts stored in the app.
o Access to discounts and offers from retailers directly on your phone
o Improved security, as no banking and sensitive information is stored on the phone or made available to the merchant
o All communication is encrypted and is carried out through Seamless’ own transaction platform, that operates 3, 1 bn. transactions every year in more than 30 countries
 For merchants:
o Low investment requirements, since no hardware installation is needed
o The transaction costs are reduced by 50% compared to other payment methods
o SEQR is integrated to existing cashier payment system and a sticker with a QR code is placed at check out for the consumer to scan
 “We are very excited about being able to make SEQR available to Romanians through the partnership with GarantiBank. SEQR is the only complete mobile payment solution on the market, which makes it possible for consumers to go from carrying around a wallet full of cash, payment cards, coupons, loyalty cards and receipts to collect everything in the smartphone, through one app, for free. Merchants will also benefit from this new mobile payment solution, since they will enjoy a 50% cut in transaction fees compared to other payment methods”, stated Peter Fredell, CEO of Seamless, company that provides SEQR.

“SEQR is a mobile payment solution that is unique in its kind on the Romanian market and has already been proven successful abroad. Seamless is a world expert in mobile payment solutions and GarantiBank is constantly innovating for the benefit of its customers. Therefore, it is natural to have a partnership in which all parties, including customers, merchants, Seamless and GarantiBank, win”, stated Fatih Arpas, Director of Alternative Delivery Channels & IT, GarantiBank. “Through SEQR, our 300,000 existing GarantiBank retail customers and potential clients are able to link their current accounts to the app and enjoy fast, safe and easy shopping using their smartphones”, added Arpas.

Currently, SEQR users can perform transactions in Bucharest, at Subway Upground, Bata and For Family networks, as well as the HoReCa locations Bierhaus 67 and Ave Hotel. The solution is also being implemented nationwide in the Nike, Collective, Follie Follie, Converse, .kix, Calvin Klein Jeans, Star Place and Arsis networks, as well as Tabiet teahouse and Antipa coffee shop. SEQR will be available in other locations and cities in partnership with merchants in various areas. For the updated list of partner merchants please visit www.seqr.com.

GarantiBank clients can download SEQR for free on their smartphone and link it to their current account(s) via the internet banking service - Garanti Online, at any of the bank’s 260 BancoSmart ATMs, or at one of GarantiBank’s 78 nationwide branches. Benefits of becoming a GarantiBank customer include access to some of the most competitive financial products that can be tailored based on needs, the best and safest internet banking system – multi-awarded globally, and various innovative services such as SEQR and iLoanU, as well as the widest network of smart ATMs in the country.
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About GarantiBank Romania GarantiBank Romania is part of the financial banking Group Garanti Romania, which reunites Garanti Leasing (the brand under which Motoractive IFN SA operates), Garanti Credite de Consum (the brand under which Ralfi IFN SA operates) and Garanti Credite Ipotecare (the brand under which Domenia Credit IFN SA operates).  GarantiBank is a universal bank owned by Turkiye Garanti Bankasi A.S. (TGB), the most profitable and the second largest private bank in Turkey, in terms of assets.
Turkiye Garanti Bankasi is among the strongest banks in the world, according to the ranking established in May 2013 by Bloomberg, one of the most prestigious worldwide business and economic news agency.

The bank offers a series of quality products and services for all business segments: retail, SME and corporate, and it is one of the most dynamic and innovative banks on the local market. Present in Romania since 1998, GarantiBank developed a solid clients portfolio and extended its national presence through agencies and alternative channels, reaching an extended network of over 260 intelligent ATMs that can be utilized by anyone, not only the bank’s clients, for transactions with or without card. 
GarantiBank was awarded in July 2013 by the international prestigious magazine Global Finance for "Best Consumer Internet Bank in Romania" and "Best in Social Media in CEE Region". The two awards were given within the "World's Best Internet Banks Competition 2013". www.garantibank.ro

About SEQR, application developed by Seamless SEQR (se·cure) is Sweden and Europe’s most used mobile wallet 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, 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 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 30 countries, Seamless handles more than 3,1 billion transactions annually through 525 000 active sales outlets. SEQR is available at Sweden’s largest grocery chains, fast food chains and national retailer chains including McDonald’s, Hemköp and Ur&Penn. In 2013, SEQR was launched in Romania together with GarantiBank. Seamless is traded on Nasdaq OMX Stockholm, under the SEAM ticker. www.seqr.com and www.seamless.se