Danish payments company Nets, and Swish a Sweden based payments app, today announced their collaboration on “an in-store payments pilot” programme. With this collaboration with Nets, the Sweden based payments app can expand into the retail and service sectors by piloting in-store mobile payment functionality.

Pär Ekroth, marketing manager, Swish commented,”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,”

This collaboration between the two payments companies will enable Swish to work on in-store payments with a Bluetooth module developed by Nets that provides an NFC-like ‘Tap and pay’ experience for consumers. The in-store payments functionality also enables better loyalty programmes, 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.

This collaboration between the two payments-based companies will provide a new solution for in-store payments which is scalable and enables a quick and convenient check-out. 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.

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by Megha Bhattacharya
Market Analyst at IBS Intelligence
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