STOCKHOLM, June 7, 2017 /PRNewswire/ --
MeaWallet today announced that it has signed a License Agreement with a large Tier 1 Card Issuer. MeaWallet will be responsible for installing and setting up the solution in the customer's local datacenter. Through this agreement, the Card Issuer can provide digital- and mobile wallet services to their four million card holders, supporting four card schemes – local scheme, Mastercard, Visa and American Express, as well as the converged wallet service Masterpass.
This is the first project where MeaWallet will be delivering digital cards running on the American Express network, positioning the MeaWallet as one of the most complete Token Hubs in this industry.
This new partnership confirms MeaWallet's market position as one of the world leaders in providing flexible mobile payment solutions – offering both a managed service solution as well as in-house software-based solutions. MeaWallet will continue to develop and grow its innovative solutions to support all major Card schemes and mobile payment solutions to meet issuer and business needs of today and well into the future.
Lars Sandtorv, CEO at MeaWallet, explains how MeaWallet has achieved this unique position: "MeaWallet is paid for its focus on technology, product, and our agility and ability to adapt to changes in the market. We have evolved with the market." Furthermore, MeaWallet is one of very few companies supporting both tokenization and digitization for the following three major card networks, namely: Visa, Mastercard and American Express.
MeaWallet was selected as vendor after a thorough selection process; a five-month process that included more than ten vendors. Lars Sandtorv, the CEO of MeaWallet: "We are proud to be selected, this is a big case for MeaWallet. Due to this opportunity, we can prove our capabilities and attraction to Tier 1 players."
The expectation is to go live with the first phase late this year, the following phases of the project will be delivered in 2018.
MeaWallet's solution will maintain certification with Mastercard and Visa, and will be American Express certified during 2017.
For more information, please contact:
Lars Sandtorv, CEO
Head of Treasury & Investor Relations
MeaWallet is the 'One-Stop-Shop' for Mobile and Digital Payments.
Mea's Mobile Service Platform is built to enable HCE/Tokenization, MDES/VTS, Masterpass and converged wallets. The solution is built to support the big EMV schemes as well as local schemes. The platform can enable any wallet application and wearable device for mobile and digital payments.
MeaWallet is one of the world's leading companies in the digital payment space, and one of few companies focusing 100% on tokenization technologies. MeaWallet is a part of the Seamless Group, and the company is listed on the Nasdaq Stock Exchange in Stockholm (SEAM). www.meawallet.com
Seamless is one of the world's largest suppliers of payment systems for mobile phones. Founded in 2001 and active in 35 countries, Seamless handles more than 5.3 billion transactions annually through 675 000 active sales outlets. Seamless has three main business areas including the transaction switch, the technology provider for the distribution of e-products and the mobile payment platform Seqr. www.seamless.se
This information was brought to you by Cision http://news.cision.com
The following files are available for download:
SOURCE Seamless Distribution AB