WESTPAY AB: ENTERS AGREEMENT WHICH WILL INCREASE SHARE OF TRANSACTION REVENUES

Westpay AB, a leading fintech company, has signed an agreement with Open to provide a payment solution for alternative payment methods (APM), including Swish. Open (formerly OpenSolution) is a leading provider of point of sales solutions for the Nordic region's restaurant and service industries.

- Influenced by the pandemic situation, the demand increases for contactless payments in general and alternative payment methods in particular. We are well-positioned to generate revenues from processing these alternative payments thanks to our role in the payment ecosystem. Together with our longtime partner, Open, and as a first step, we will bring Swish payments to restaurants and their guests in Sweden. This is a game-changer for us at Westpay as it will making transaction revenues an integral part of our business model, says Sten Karlsson, CEO at Westpay AB.

- Westpay is a trusted technology partner to Open and has been so for many years. With their innovative Swipe2pay solution, we can keep adding new payment methods over timewhich enables us to scale. It is also vital for us to be able to consolidate transaction data for our customers. Together with Westpay we can do just that, says Claes Tollebäck, COO at OpenPos AB.

This agreement is part of the existing business cooperation between the companies. It is estimated that transaction revenues from Swish processing under this agreement will commence during the third quarter of 2021.

For additional information, please contact:

Sten Karlsson, CEO Westpay AB
Mobile: [phone]
Email: [e-mail]

Hans Edin, CCO Westpay AB
Mobile: [phone]
Email: [e-mail]

Certified Adviser is Redeye AB,
Phone: [phone], email: [e-mail]

Attachment

• Pressrelease_20210520_Open and Swish (https://ml-eu.globenewswire.com/Resource/Download/0fc6400e-dcfc-42ab-b0b4-a6dbc72de0b6)