Partnerships / Acquisitions

Swish Teams With Nets To Test In-Store Mobile Payments

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Payments company Nets announced that it is partnering with Swish, the number one payments app in Sweden, on an in-store payments pilot program.

The program is the first of its kind in Sweden, launched at two restaurants with plans to expand to additional merchants after the summer.

While Swish has been primarily used for account-to-account transactions and, more recently, eCommerce payments, it is now expanding into the retail and service sectors.

“Seven million Swedes walk around with the Swish app in their pockets, and it’s clear that the demand for easier in-store payments is increasing. As such, we are pleased to offer mobile payments functionality to our customers,” Pär Ekroth, marketing manager of Swish, said in a press release.

Swish will enable in-store payments via a Bluetooth module developed by Nets that provides an NFC-like “Tap and Pay” experience for consumers. Integration with merchants’ systems simply requires the addition of a “Bluetooth box,” which is a separate hardware device that is easily attached to the terminal, allowing the merchant to accept payments from mobile phones. There is no need to buy new payments terminals.

“The payment experience is similar to making a contactless payment, which consumers are accustomed to — particularly in countries like Sweden with high digital penetration. Not only can merchants easily install the solution and accept Swish payments through their existing Nets terminals, but it’s also easy and intuitive for consumers to use,” explained Jan Lundequist, senior vice president of Nets Merchant Services.

This new solution will include a payment terminal display and app user interface that shows consumers how to make payments using Swish. In addition, consumers will be able to easily see which payment method is being used to avoid any confusion if there are multiple payment apps on their smartphone. And merchants can use the payment function to boost loyalty programs and digital communication with their customer base.



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