Swedes loves the real-time payment method Swish, first for doing person-to-person and now more and more when paying for goods and services. Here is some stats on Swish from the month of November 2017.
- 6+ million active users
- 21.5 million transactions, where of 2M for online purchases
- Total volume “swished”, 12.2 billion SEK (equals €1.23B or $1.45B)
- 140 000 businesses accepting P2B Swish payment
- 1 400 online shops
Big online retailers also start accepting Swish. Remarkable examples that has gained nice traction are Svenska Spel, Swedens largest betting company, where 40+% of online/inapp transactions is paid with Swish, ATG, large horse betting, sees 30+% of online/inapp transactions paid with Swish and “late onboarder” SJ, largest train operating company, where 50% of inapp and 1/3 of online purchases is paid with Swish.
Early this year when Swish was launched for online/inapp purchases, the Swish chairman of the board said that “Swish will take 20% in 2 years”, I think it will go faster.