Key Moments:
- Zimpler became the first payment institution to connect directly with Getswish, eliminating the need for separate bank agreements to offer Swish.
- The new access allows businesses, including those in regulated and international sectors, to onboard Swish faster and at a reduced cost.
- The launch may prompt increased competition in Sweden’s financial ecosystem as account-to-account payments expand throughout Europe.
Groundbreaking Partnership: Zimpler and Swish
Zimpler, a Swedish provider of Pay-by-bank solutions, has launched Swish Handel (Swish Commerce) and Swish Utbetalningar (Swish Payouts) for its partners. This development marks the first time Getswish, the creator of the widely used Swedish payment solution Swish, has enabled direct integration through a non-bank operator. Businesses can now add Swish as a payment method via a payment institution, bypassing the traditional requirement for individual bank agreements.
Immediate Advantages for Businesses
This new arrangement eliminates the need for companies to establish direct banking relationships, which often proved both complex and costly, especially for regulated sectors or international enterprises. With Zimpler in place as a direct participant, firms of all sizes have quicker, more stable, and more affordable access to Swish’s extensive payment network.
Executive Perspectives and Industry Impact
“This is a turning point for the Swedish payments market. By opening Swish beyond the banks, we are not just simplifying payments, we are reshaping how businesses can access one of the most trusted payment methods in Europe”, says Johan Strand, CEO of Zimpler.
Strand also emphasized, “This is also an important step in the stability of the Swedish financial ecosystem, which has recently seen recurring disturbances and downtime. Through our focus on the Swedish market and our long experience of payment infrastructure, we can improve the customer journey with a more stable and reliable payment experience.”
Urban Höglund, CEO of Getswish, commented, “Swish has always been about speed, security, and ease of use. By opening up to Zimpler, we can now reach more companies and industries than before. This is an important step to meet the growing demand for flexible and secure payments.”
Market Implications and Broader Reach
| Impact Area | Details |
|---|---|
| Stability | More providers mean reduced reliance on single banks and stronger overall financial system resilience. |
| Quality | Specialized providers deliver focused service for improved customer and business experiences. |
| Cost & Onboarding | Companies avoid prolonged onboarding, benefitting from faster setup at lower cost. |
| Network Reach | Access to Sweden’s largest payment network, used by 8.7 million individuals and 300,000 businesses. |
| Market Access | New opportunities for international and regulated companies serving Swedish customers. |
| Future Prospects | Zimpler could become a Swish provider for other payment service providers, influencing sector competition. |
Shifting Dynamics in Sweden’s Financial Landscape
This launch signals a potential transformation in Sweden’s payments environment. As account-to-account payments see accelerating growth across Europe, Swish’s availability through direct non-bank integrations like Zimpler could intensify competition with traditional card networks and redefine the role of banks within the country’s dynamic payment ecosystem.
- Author
Daniel Williams
