Nordic API Gateway teams up with Svea to boost e-commerce checkout process in Finland

By Megha Bhattacharya

Open banking platform Nordic API Gateway announced a partnership with payment service provider Svea with an aim to enhance the checkout process for merchants in Finland. Merchants will now be able to simplify the payment process and increase security for consumers. Svea is expected to launch open banking payments in Finland, followed by markets across the Nordics and Baltics.

Tomas Lundqvist, Director of Strategic Partnerships & Products at Svea Finland, said, “The payment industry is developing at a high pace and we want to stay on top and ahead of these developments at Svea. We’ve been looking into open banking opportunities for a while and are happy to take the next steps in partnering with Nordic API Gateway to deliver, expand and explore new opportunities in the e-commerce landscape.”

Recently, FinTech Nordic API Gateway has rolled out a new platform – Aiia in a bid to make innovations for businesses affordable without the need for acquiring and maintaining an AISP or PISP license. The FinTech states that businesses will be able to benefit from the PSD2 enabled access to account to account payments alongside access to financial data.

Rune Mai, CEO & Co-Founder at Nordic API Gateway, also comments on the partnership said, “We’re happy to partner with yet another strong player from Finland to deliver account-to-account payments. The new opportunities from getting regulated access to accounts is maturing at a high pace, and as an infrastructure provider we are super proud to be igniting this wave of cheaper, safer and simpler bank payments for all consumers and businesses in Europe.”