Swedbank starts a collaboration and invests in the FinTech company KACHING Retail
Swedbank starts a collaboration with KACHING Retail, and is one of the key investors in the FinTech company’s financing round. KACHING Retail was founded in 2017, and two years later the company is a leading supplier and developer of mobile payment solutions for larger retailers.
“There is a high demand for innovative, flexible and smart payment solutions from both merchants and consumers. This contributes to both increased sales and higher customer satisfaction. Through the investment and cooperation with KACHING Retail, we can now continue to drive this development forward, so that mobile solutions for payments can become even more flexible and efficient,” says Linus Singelman, Head of Group Commerce and Swedbank Pay at Swedbank.
Swedbank has together with its subsidiary PayEx, gathered its payment offer under the Swedbank Pay product brand. Swedbank Pay is one of the leading commerce provider with more than 100,000 merchants as customers in the Nordic and Baltic markets.
In addition to Swedbank's investment in KACHING Retail, the bank has also entered into a commercial collaboration. The bank's ambition with the investment and the collaboration with KACHING Retail, is to continue to develop mobile solutions that support the digitization of sales processes and mobile payments to further improve customer experience in all sales channels.
For further information:
Linus Singelman, Head of Swedbank Group Commerce and Swedbank Pay, ph. +46 72 500 89 41
Carina Sesser Nylund, Press Contact Swedbank, ph. +46 72 230 52 64
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