Swish is expanding to physical stores to extend usage among the millions of Swedes who use the app for account-to-account transfers.
The app will enable in-store payments with a Bluetooth module developed by Nets that provides an NFC-like “tap and pay” payment experience. The in-store payment capability also enables the creation of better loyalty programs because it creates the possibility for merchants to add real-time, geo-tagged shopping offers.
The pilot program is being conducted at two restaurants owned by one of Sweden’s corporate cafeterias. The test will expand to include additional merchants after the summer.
"Seven million Swedes walk around with the Swish app in their pocket, and it’s clear that the demand for easier in-store payments is increasing,” Pär Ekroth, marketing manager at Swish, said in a press release.
Swish was originally created for real-time account-to-account transfers, but added the ability to conduct
The cashless wave has been building significant speed in the Nordic countries with an explosion in popularity of bank-connected apps such as
"The payment experience is similar to making a contactless payment, which consumers are accustomed to — particularly in countries like Sweden with high digital penetration," Jan Lundequist, senior vice president of Nets' Merchant Services, said in the press release.
The Norway-based
The deployment comes in anticipation of
