SEB and Nordic Banks Launch mPayment Service

Nordic financial services group SEB, together with Danske Bank, Handelsbanken, Länsförsäkringar Bank, Nordea, Swedbank and Sparbankerna, have launched mobile payment service Swish.

The Swish app is made for iOS and Android devices and enables users to transfer money in real-time. The service works by connecting mobile phone numbers to bank accounts. Users must have a 'safety solution mobile bank ID' to access the service using the app.

“This is a quick, simple and secure way to pay via mobile phone,” said Mats Torstendahl, head of retail banking at SEB. “Through this cooperation with other banks in Sweden, we provide the opportunity for our customers to transfer money seamlessly from their own mobile phones to a bank account.”