Nets, a European payments company, and Swish, the number one payments app in Sweden, announce their collaboration on an in-store payments pilot program.
Until now, Swish has mostly been used for account-to-account transactions and, more recently, ecommerce payments. Now, the popular payment app is working with Nets to expand into the retail and service sectors by piloting in-store mobile payment functionality.
The pilot program is the first of its kind in Sweden and is being conducted at two restaurants owned by one of Sweden’s leading corporate cantina. The pilot will expand to additional merchants after the summer.
"Seven million Swedes walk around with the Swish app in their pocket, and it’s clear that the demand for easier in-store payments is increasing. As such, we are pleased to offer mobile payments functionality to our customers,” says Pär Ekroth, marketing manager, Swish.
Swish enables in-store payments with a Bluetooth module developed by Nets that provides an NFC-like ‘Tap and pay’ experience for consumers. Integration with merchants’ systems is simple and requires only the addition of a ‘Bluetooth box’ to Nets payment acceptance terminals.
A Bluetooth box is a separate hardware device that is attached to the terminal allowing the merchant to accept payments from mobile phones. Just prior to the payment a connection is made between the phone and device based on Bluetooth Low Energy (BLE). This means that many merchants will not need to purchase new terminals to accept Swish payments. The in-store payments functionality also enables better loyalty programs, as Bluetooth technology opens up use cases such as real-time, geo-tagged offers.
Nets also provides this Bluetooth functionality to Danish merchants, enabling them to accept in-store payments from locally issued wallets.
"The payment experience is similar to making a contactless payment, which consumers are accustomed to – particularly in countries like Sweden with high digital penetration. Not only can merchants easily install the solution and accept Swish payments through their existing Nets terminals, but it’s also easy and intuitive for consumers to use," says Jan Lundequist, Senior Vice President, Nets Merchant Services, Nets.
Swish and Nets’ new solution for in-store payments is scalable and enables a quick and convenient check-out. The payment terminal display and app user interface clearly show consumers how to make payments using Swish. Furthermore, the pairing between the mobile app and the payment terminal is uniform to prevent any uncertainty about which payment method is being used – for example, if a consumer has multiple payment apps on their smartphone. Merchants can also use the payment function to improve loyalty concepts and digital communication with their customers.
