Swish: The preferred mobile payment solution in Sweden
The best technology solutions are ones that fit seamlessly into our daily lives, without us even noticing that we're using it. The smartphone, for example, has made itself so indispensable that many people can't imagine their lives without one. The many programmes and apps available make everyday tasks easier, more manageable and allow us to do things we never could before, such as taking, sending photos, answering emails and managing money.
The key to introducing any new technology into a society is to create something that is similarly indispensable, and to ensure that there are as few barriers to participation as possible. The truly tech-savvy countries realise this and have made great strides in bringing forward technology that is both innovative and user friendly. Sweden is now almost a cashless society thanks to the forward-thinking approach of its government, which worked closely with the major banks and businesses to create a payment method (called Swish) which linked closely with Swedish citizens' digital lifestyle.
Going cashless is obviously a disruptive step for a culture with hundreds of years of cash behind it, so the introduction of Swish was planned with the intention of making it as hassle-free as possible, to make it the obvious choice. By focusing on existing technologies such as digital wallets and mobile-based NFC payments, these changes fit nicely into the existing habits of Swedish citizens. By also facilitating work between the big banks and 140,000 Swedish merchants, the government also ensured that transactions would be widely accepted and hassle-free, avoiding another possible roadblock in acceptance. 80% of Swedish transactions are now cashless, including C2B, B2C and B2B.
AltaPay's payments portfolio provides you access to fantastic payment solutions like Swish, which is a great boost for any business wanting to access Sweden's 6 million Swish users. Consisting of the following banks: Danske Bank, Handelsbanken, ICA Banken, Länsförsäkringar, Nordea, SEB, Skandia, Sparbanken Syd, Swedbank & Sparbankerna, Ålandsbanken, the Swish bank to bank transfer system allows instant payment in SEK, for consumers who have a Swedish bank account and bank ID.
"We have had great success in Denmark introducing mobile payments together with MobilePay. Swish will help strengthen our payment mix in Sweden while following the market trends of mobile focus, and at the same time make it much more convenient for our customers during check-out. Thanks to AltaPay's one integration, the implementation was incredibly smooth. With Swish added to the checkout process, the customer experience will get a big boost in Sweden."Tobias Sjölin, Project Director, boozt.com.
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