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A combination of new technology, continued growth in e-commerce, changing consumer expectations and impactful regulation, such as PSD2, is transforming the world of payments. If you are a merchant or corporate with payment requirements or e-commerce needs towards the consumer or even other companies, Nordea is committed to meeting the expectations of both you and your customers.
Currently, Nordea provides the mobile payment schemes/solutions with the highest end-user penetration and transaction base in each of the Nordic countries, namely Swish, MobilePay, Vipps and Siirto. In fact, across the four Nordic countries we provide payment access and solutions to more than 12 million active mobile payment users and have recently supplemented this with Apple Pay and Samsung Pay solutions.
A mobile payment scheme (MP scheme) is a solution enabling customers to pay using their mobile phone in various use-cases. It comprises:
- Between user payments: Peer-to-peer transfers local in each country
- Retail and shops: Payments to shops via different handshake models
- E-commerce/m-commerce: Fast and frictionless payment in online shops and in apps (app switch)
- Remote payments: Simple consumer payment for invoice, bills and/or subscriptions
| Country | MP scheme offer | Active end users | Nordea involvement |
|---|---|---|---|
| Denmark | MobilePay | +3.800.000 – 66% penetration in Denmark | Partner |
| Norway | Vipps | +2.600.000 – 50% penetration in Norway | Partner |
| Sweden | Swish | +6.000.000 – 60% penetration in Sweden | Partner and owner |
| Finland | Siirto | +400.000 – 7% penetration in Finland (after 6 months) | Partner and owner |
Increasing consumer satisfaction through increased payment choice
As part of our commitment to making payments increasingly effortless and tailored to the consumer, we also provide consumers with the option to use payment methods such as Apple Pay, Samsung Pay and invoicing via Facebook Messenger, while we continue to put an ongoing focus on enabling IoT payments via tokenisation.
Happy consumers, happy merchant customers
Consumer adoption of these mobile payment solutions is driven by ease of use and flexibility. Merchants who enable consumers to use their mobile payment solutions in turn experience higher conversion rates, increasing sales, recurrent customers and higher payment on time rates on bills and subscriptions. As a merchant/corporate, you receive reconciliation on Nordea receiver account involving payments from consumers using a respective MP scheme and service.
Learn more about the different local merchant solutions on the local country sites: