According to Swish, their payment service has 8.5 million private users. Now it will not only be possible to transfer money between users, but it will also be possible to add your payment card to the app for its users in Sweden.
There is a great demand to pay with Swish in more situations, for example, in stores in a simpler way, both in Sweden and abroad, says Höglund.
Do you want to challenge other digital payment services in Sweden?
Absolutely. We're taking on the global giants, says Urban Höglund and adds:
We are a local actor and see this as a way to improve our service and compete with the tech giants.
Competing with giants
The playing field already has established giants like Google pay and Apple pay. But from Swish's side, they believe it's possible to compete and that users are open to their new service.
There is potential both among those who already use digital cards on their mobile and among those who are new to it, says Höglund.
Erik Gutwasser, CEO of Northern Europe Mastercard, believes that most customers nowadays want to pay with their mobile or another digital device. The use of payment cards has undergone a significant shift in recent years.
The most common type of payment is just to tap and use your mobile, he says.
Android first out
First out to be able to use their payment card from Mastercard or Visa in the app will be those with Android phones. Sometime during 2025, the service will also be offered to those with Apple phones, according to Höglund.
Previously, Apple users have been locked to Apple pay, but after criticism from the EU Commission, other services have been allowed since a few months ago.
Another prerequisite is that banks connect to the service. Two are close, then it will "roll on" with more banks during 2025.
The first bank to go out is Sparbanken Syd, says Höglund.
