Seamless Acquires MeaWallet AS to Push its Mobile Payments Ambitions

Seamless Distribution (NASDAQ:SEAM), a mobile Payments Payments One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl Read this Term technologies provider, has acquired Norwegian technology company MeaWallet AS for a purchase price of $5.04 million (SEK 42.8 million), helping push its contactless payments strategy, according to a Seamless statement.

The acquisition is important for Seamless’ payments ambitions and helps open up new business channels via MeaWallet´s technology. This caters to a number of different institutions, specifically those within the mobile payments market. For its part, MeaWallet provides technical solutions for Cloud Cloud The cloud or cloud computing helps provides data and applications that can be accessed from nearly any location in the world so long as a stable Internet connection exists. Categorized into three cloud services, cloud computing is segmented into Software as a Service (SaaS), Infrastructure as a Service (IaaS), and Platform as a Service (PaaS). In terms of trading, the versatility of the cloud service allows retail traders the ability to test out new trading strategies, backtest pre-existing conc The cloud or cloud computing helps provides data and applications that can be accessed from nearly any location in the world so long as a stable Internet connection exists. Categorized into three cloud services, cloud computing is segmented into Software as a Service (SaaS), Infrastructure as a Service (IaaS), and Platform as a Service (PaaS). In terms of trading, the versatility of the cloud service allows retail traders the ability to test out new trading strategies, backtest pre-existing conc Read this Term based payment services, leveraging Host Card Emulation (HCE) technology.

The recent deal will also see the acquisition of MeaWallet’s technology that helps aid Seamless’ SEQR business – this directly impacts the group’s technology that can be sold to institutions who want to establish themselves within the mobile payments realm.

Acquisition Structure

The acquisition will feature a payment that is slated to be made through the issue of 4,574,328 new shares in Seamless towards existing holders of shares. Furthermore, shareholder loans and convertible debentures in MeaWallet will accompany 2,637,968 shares that will be paid with shares in MeaWallet and 1,936,360 shares will be paid with shareholder loans and convertible debentures.

Earlier this week, Seamless expanded its SEQR solution within Sweden, via the use of Near Field Communication (NFC) technology, a set of communication protocols that helps streamline connectivity between electronic devices. The SEQR Contactless serves as borderless solution that caters to users requiring international transactions utilizing contactless card terminals.