P27 Nordic Payments Platform partners up with Mastercard
Swedbank, together with five of the Nordic countries' largest banks, is behind the P27 Nordic Payments Platform initiative. The ambition for the collaboration is to build a common infrastructure and payment platform for the Nordic countries. P27 Nordic Payments Platform is now partnering with Mastercard, in order to continue the work of building up and creating a Nordic region for real-time payments.
As one of the initiators of the P27 Nordic Payments Platform, Swedbank believes that the six Nordic banks' initiative and cooperation is an important step in integrating and developing the Nordic payment market.
The P27 Nordic Payments Platform initiative, and the ambition of the collaboration, is ground-breaking. The goal is to be able to offer customers a cost-effective and safe way to send and receive money without delay within a whole region. Direct payments in different currencies from account to account mean a completely new Nordic infrastructure for payments. This can help to enable the development of new products and services.
With Mastercard as a partner, P27 Nordic Payments Platform will now continue to work on building up the Nordic multi-currency platform for real-time payments. In a first step, the plan is to offer support and services for payments in the currencies DKK, EUR and SEK.
The initiative P27 Nordic Payments Platform is subject to approval by the competition authorities, approved license application and final investment commitments by the six sponsor banks (Danske Bank, Handelsbanken, Nordea, OP Corporate Bank, SEB and Swedbank).
Link to further information about the initiative P27 Nordic Payments Platform
Contact:
Unni Jerndal, Press Officer, Swedbank, ph. +46 73 092 11 80
Swedbank encourages a sound and sustainable financial situation for the many households and businesses. As a leading bank in the home markets of Sweden, Estonia, Latvia and Lithuania, Swedbank offers a wide range of financial services and products. Swedbank has over 7 million retail customers and around 600 000 corporate customers and organisations with 180 branches in Sweden and 122 branches in the Baltic countries. The group is also present in other Nordic countries, the US and China. As of 31 March, 2019 the group had total assets of SEK 2 246 billion. Read more at www.swedbank.com
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