Nordea takes the lead in mobile payment solutions

Erik Zingmark, Head of Transaction Banking.
18-10-30 7:16 | Digital banking | The Digital Hub

Nordea today announced the launch of Google Pay in all our four Nordic home markets. Through collaboration with external partners like Google, Apple, Samsung, Garmin and Fitbit, Nordea now offers the broadest spectrum of mobile payment solutions in the Nordic market. Erik Zingmark, head of Transaction Banking at Nordea, elaborates on our digital strategy:

Do Nordea’s customers really need so many different payment solutions?

For us, it’s all about giving our customers access to the same modern and secure payment methods regardless of which device the customer chooses to use. As a modern bank, we must be agile and always poised to adapt to our customers’ changing behaviour. Besides, future transformations are mainly driven by customers, not banks, says Erik Zingmark.

Why does Nordea use external partners instead of investing in in-house solutions?

It’s all about offering the best available solutions to customers right here, right now. We invest massively in our IT platform as well as in netbank and mobile bank features. With an evolving landscape, including both established players as well as new players entering the financial industry, we want to collaborate with different partners as this makes us much swifter and more agile. 

How do you foresee the future of everyday payments – will we pay for everything with our phones?

Pinpointing future trends is always difficult. Going forward, we believe that the number of devices preferred by customers for making daily payments, will increase. Our goal is to be able to say to the customer: it’s your choice. Whether it be an Android device, iOS, plastic card or something else, we want to provide customers with the option to make daily payments in their preferred way.

What’s up next for Nordea after Google Pay? Any hints? 

I can’t give you any details at this point, but I can assure you that there will be more collaborations, as well as new features, in our own digital channels. For instance, we are working on making online shopping easier by aligning consumers’ needs and behaviour patterns with those of the online vendor.

How have the various mobile payment solutions been received by customers?

The digital payment solutions that we have already launched, such as Apple Pay and Garmin, have been very well received – actually even better than I had predicted. I think we must, however, have respect for the fact that changing a behaviour takes time. The habit of making payments using devices like smartphones will develop gradually. 

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