MeaWallet Makes Transition from TSM to HCE Supplier but Challenges, including Lawsuit, Remain

Sep 8 2016

NFC Times Exclusive Insight – Rising from a failed TSM and wallet provider, Norway-based MeaWallet has transformed itself into a certified supplier of host card emulation technology, now part of Sweden-based Seamless Distribution.

Seamless hopes its 43 million SEK (US$5 million) share-based acquisition of MeaWallet in July will help it secure another source of revenue from the promising mobile payments market, although there is an intellectual property dispute pending against MeaWallet and its CEO.

MeaWallet AS rose from the ashes of TrustNorway, a technology company founded in 2011, and former investors are still involved in a legal dispute with the founder and former CEO of TrustNorway, Lars Sandtorv, who now heads MeaWallet. MeaWallet is not commenting on the suit, which is reportedly scheduled to go to trial in November.

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