Sweden’s banks get behind P2P money transfer

Sweden’s banks get behind P2P money transfer

12 DEC 2012

Seven banks, all of whom are present in the Swedish market, have launched a new app that enables the country’s mobile subscribers to send money between bank accounts using only their mobile numbers.

The banks involved in the new service are SEB, Danske Bank, Handelsbanken, Länsförsäkringar Bank, Nordea, Swedbank and Sparbankerna.

The new Swish app was launched on 12 December in the App Store and Google Play.
The banks will not disclose whether they have rollout plans beyond Sweden.  Nor whether they will look at offering point-of-sale payments in the future.

The service is similar to Pingit launched by UK bank Barclays earlier this year.

Author

Richard Handford

Richard is the editor of Mobile World Live’s money channel and a contributor to the daily news service. He is an experienced technology and business journalist who previously worked as a freelancer for many publications over the last decade including...

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