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Wallet Database


21st of August 2016


  • Summary: Swish is an account to account digital wallet for online purchases operating in Sweden only and launched in Dec 2012. Swish has been developed by a bank consortium formed by six Swedish banks.

  • Website

  • Status: Live

  • Market: Sweden (Dec ’12)

  • Type: Bank Consortia

  • Ownership: Swish is owned by a consortium of six Swedish banks – Danske Bank, Handelsbanken, Länsförsäkringar Bank, Nordea, SEB, Skandia and Swedbank, with Bankgirot ( as provider (They gave mandate to Bankgirot to develop, operate and manage the platform)

  • Functions: Retail and P2P payments

  • Payment Mode: Account to account

  • Channel: WEB, In-app, POS via phone number

  • Roadmap: n/a

User Experience

  • Registration & set up: User has to be a customer of a supporting bank and has online banking. “Swish payments” is available on App Store, Google Play and Window Store. To verify the number is necessary to enter a code received by SMS. Foreign mobile phone numbers can be used, but the owner must have a Swedish bank account with online banking. It is only possible to connect a mobile number per bank account. Minimum age to make payments is 16 years. People who are at least 13 years old can receive money.

  • Making a payment: Select Swish as payment method. User keys in his mobile number and opens Swish app (if it is done through smartphone, normally Swish app starts automatically without having to do anything). Authenticate with Mobile BankID. (Update to follow – Further information being obtained)

Payment Flows & Technology

  • Merchant perspective: Module Swish Enterprise Business Online needs to be installed. Affiliated companies, associations and organizations will have a unique Swish number. The number is in turn linked to the payee’s payment account. Private person uses his Swish app to make the payment and indicate Swish-number, amount and possibly message. Approved payment is added directly into the account that is linked to Swish number (within seconds). Companies get a special number starting with 123.

  • Security: The security is based on the security of mobile bankID ( Password is sent encrypted and not stored in the phone.

Business Model

  • Strategy: Providers (Banks) offer a secure payment solution (Swish) to the merchants, who are charged several fees (transaction fee, connection fee and monthly charges) for the abovementioned solution.

  • Payee fee: Each provider (bank) has its own customer offerings and pricing. For example: Daske Bank: Transaction fee 2.50 kr/transaction. Connection: 475 kr./Swish number. Monthly charges: 50 kr./Swish-number.

  • Payer fee: No charge for consumer 

Performance Data

Contact (MobeyForum Members only)

  • Name: N/A

  • Address: N/A

  • Email: N/A

  • Phone: N/A