Money 20/20 Europe, Amsterdam, 4th June 2024 - PPRO, the leading local payments platform, has announced its partnership with Nordic challenger bank Lunar and Swedish local payment method Swish. This collaboration will enhance PPRO’s instant payment capabilities in Sweden through seamless integration with Lunar’s Nordic payment infrastructure and will allow Swedish consumers to use local mobile payment method Swish for payments at more of their favourite global merchant brands.
Press Release
PPRO partners with Lunar and Swish to unlock Swedish consumer market for global businesses
Published 06/04/2024.
The Swedish e-commerce market is worth US$43 billion, with Swedes buying almost US$6 billion worth of goods and services from e-commerce merchants in other countries. Sweden's main trade corridors between China, Germany, and the United States account for 65% of cross-border sales providing more opportunities for merchants in these countries to drive growth.
As Sweden's go-to mobile payment service, Swish is one of the largest payment solutions in Europe and will be available to PPRO 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, reinforcing the need for global businesses to offer their preferred payment method at checkout.
Lunar's cloud-based banking infrastructure and API solution includes Banking Services, providing third parties with access to cross-border payments, clearing and local payment schemes, such as Swish in Sweden. Starting in Sweden, this partnership will enable PPRO to access domestic payments across the Nordics, providing payment coverage in Denmark, Sweden and Norway. This will help break down access barriers for international merchants in Nordic markets, tapping into the region’s digitally-forward consumer base.
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 andenable not only access to instant payments in Sweden, but also help PPRO expand further across the Nordics."
Ken Villum Klausen, CEO of 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 commented, “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."