What is it?
Swish helps consumers transfer money to peers and to make purchases in physical shops or online via a mobile application, which is connected to the users’ and receivers’ bank accounts. To “swish” even became a verb among the locals in Sweden, where more than two-thirds of the population have the app today.
Why accept payments with Swish
Swish is the fourth most common online payment option among Swedes, and is rising fast as more than 200.000 companies accept payments via Swish today.
The Swish app is only available in their home country, Sweden, and only operates in Swedish currency (SEK).
The Swish mobile app was created in 2012. Since then, not only did the popularity of the app skyrocketed, but also the habit of transferring money to another individual through a smartphone became so established, that more than 30% of users do it at least once a day.
Swish was developed by Nordea and five other banks in cooperation with the Swedish clearing house Bankgirot. As frontrunners in the Nordics’ payments area, Nordea will always ensure merchants have access to the latest and the greatest methods to get paid.