Swedish mobile payment service Swish celebrates one year, and with more than 500 000 active users and more than 1 billion SEK (€113 Million) in transaction volume, it’s a success.
With Swish you can transfer money via a connected mobile phone to any mobile number connected to the service, at any time of day, year around. Funds are transferred in real-time account to account between affiliated banks to the service. The largest banks are already in (Danske Bank , Handelsbanken, Länsförsäkringar Bank , Nordea, SEB , Skandia Bank, Swedbank and the Savings Banks ) and I believe more will/have to be connected as of the success of the service.
Keys to the success and the nice customer adoption are : the simple and useful use case (real-time money transfer person-to-person), the very simple to use mobile app and the trust/security having all the big banks behind the service.
Is there room for improvement ?
Yes, the possibility to use it in more payment situations, like online and in shop and to ease the provisioning process, especially if you do not have mobile bankID already installed on your mobile (the mobile bankID enrolement/provisioning process is not easy and I think can be improved).
As the Swish service is implemented, and combined with mobile bankID (I think the best and most useful authentication/signing method and service), it is one of the smartest, easiest-to-use, secure and most useful mobile financial service on the market today.