Payments platform, PPRO, has partnered with Nordic challenger bank Lunar and Swedish local payment method Swish. The collaboration enhances PPRO’s instant payment capabilities in Sweden through seamless integration with Lunar’s payment infrastructure. It allows Swedish consumers to use local payment method Swish for payments at more of their favourite global merchant brands.
The Swedish e-commerce market is worth $43bn. Swedes buy almost $6bn worth of goods and services from e-commerce merchants in other countries. Sweden’s main trade corridors between China, Germany, and the US account for 65% of cross-border sales. This provides more opportunities for merchants in these countries to drive growth.
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Mobile payment service, Swish, is one of the largest payment solutions in Europe. PPRO says it will be available to its customers in the coming months. Along with debit cards, it is the most common local payment method used for e-commerce purchases by Swedish consumers. And, says PPRO, it reinforces the need for global businesses to offer their preferred payment method at checkout.
Mobile payment service Swish: 8 million users
Motie Bring, CEO of PPRO said, “Swish is replacing cash for Swedish consumers. With over 8 million users, this partnership will enable our global partners and customers to tap into the Swedish e-commerce market at scale. Our partnership with Lunar will unlock a highly complex banking environment. It enables not only access to instant payments in Sweden, but also helps PPRO expand further across the Nordics.”
Ken Villum Klausen, CEO, Lunar added, “In many ways the Nordics is a difficult region to enter for international banks and fintechs. Through our partnership with PPRO, global businesses can offer enhanced payment experiences for merchants targeting Swedish consumers. This partnership is testament to our cutting-edge infrastructure and API solution enabling businesses around the world to gain access to the Nordics.”
Urban Höglund, CEO of Swish, said: “Swedes are used to shopping online and with an increasing desire to buy from cross-border merchants, PPRO becoming a technical partner to Swish is mutually beneficial. As a result, Swedish consumers can buy from more global merchants and more merchants can better access the Swedish market.”
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