Stockholm, 2011-03-24 07:30 CET (GLOBE NEWSWIRE) --
Peter Fredell is the new Executive Director and President of Seamless, which is listed at Nasdaq OMX First North. He joins current CEO Rohit Bhatia and the rest of the group’s management team in its endeavour to capitalise on the opportunities for rapid global expansion in payment solutions via mobile phone, an area where Seamless has one of the most highly developed, reliable solutions in the market – Mollet (mobile wallet).
Peter Fredell is a major shareholder of Seamless (10.49 percent of the capital and voting rights) and is already very familiar with the company from his role on the board of directors.
“With Peter’s considerable experience of international banking, he and current CEO Rohit Bhatia can put together a very strong team to capitalise on the surging demand for banking solutions via the mobile phone,” says Gunnar Jardelöv, Board Chairman of Seamless.
Peter Fredell has over the years held several positions at international banks and companies, including Bankers Trust and his own company Fredell & Co.
Seamless has entered a phase of explosive growth. Last year customers increased by 60 percent and turnover rose by 25 percent. Recently the company won several key strategic deals. In the last few months, it landed two assignments to build up a system for mobile payments in Africa, one in one of West Africa’s largest countries. In these countries around 40 percent of the adult population has a mobile phone, while the equivalent figure for bank accounts is just 20 percent.
“In many parts of the world today, people lack a basic banking system. This banking infrastructure is now being built up with the mobile phone and mobile networks. The market is widely expected to be huge, and according to organisations such as for example Ericsson, will have a global turnover of SEK 5,000 billion by 2015.*
“Seamless’s platform is extremely well positioned to play a key role in this new market,” says Peter Fredell.
Peter Fredell took over his new position as President of Seamless as of today.
*source: Computer Sweden 2011-02-15
About Seamless:
Seamless is a software innovation company specialized in solutions for Mobile Money, prepaid e-Top Up and Value Added Services. Seamless has deployed e-Top Up and M-commerce solutions for more than 40 mobile operators in 22 countries, across three continents. Seamless was founded in 2001 and the share is traded at NASDAQ OMX First North. The company headquarter is in Stockholm, Sweden, with offices in Mumbai and Kolkata, India.
Certified Advisor: Evli Bank Plc Stockholm, telefon 08 407 8000
www.seamless.se
For more information, please contact:
Peter Fredell, Executive Director and President, Seamless,
tel +46 56487824
Gunnar Jardelö, Board Chairman, Seamless,
tel +46 708 348148
