New version of Swish to be integrated for e-commerce

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The new version of Swish, the Swedish banks P2P solution will be integrated with e-commerce.
Selected online shops will test the new API in November.

Swish is the Swedish banks increasingly popular p2p-payment service, an app-solution where money is transferred from a defined bank account and the receiver is recognized by adding a phone number. Companies get an id, similar to a phone number.

Ehandel.se writes that the updated version according to internal documents involves an integration with e-commerce. According to the news site the solution is likely to take large shares of e-commerce purchases.

Swish do not want e-retailers marketing the service until they received clear signals from their bank using the payment method, which means it will probably be in larger operation until the beginning of 2016. Today, the lowest transaction cost when using Swish is 1.50 SEK, via Swedbank.