SEQR users can now make international money transfers, or “remittances”, to non-SEQR users.
SEQR customers can already transfer money to one another across the 16 countries where SEQR is available. The new service enables SEQR customers to transfer money outside of these countries. Transfers from Sweden directly to India and Thailand will be the first deployment of the service.
More than that, the market for international remittance services is vast with approximately USD 600bn remitted globally on an annual basis, at an average cost of 7.52% of the transferred amount.
For a promotional period, international remittances via the SEQR solution will initially be free of charge.
SEQR enables anybody with a smartphone to pay in stores, at restaurants, in parking lots and online, to transfer money at no charge, store receipts digitally, connect loyalty programs, and receive offers and promotions directly through one mobile app.
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