Ecommpay, an inclusive global payments platform, has added Swedish banking app, Swish, to its portfolio of Alternative Payment Methods (APMs), in a move to help merchants targeting the Swedish market optimise their checkout performance.
By adding Swish to the Ecommpay payment platform for payments in SEK, merchants can offer Swedish consumers their preferred way to pay. The Swedish banking app boasts a 39 per cent share of checkout in Sweden.
“We know that consumers want to see payment methods they recognise when visiting e-commerce sites,” explained Rosanna Helm-Visscher, global head of partnerships at Ecommpay. “Indeed, recent research found that as much as 72 per cent of consumers might abandon an online purchase if their preferred payment method was not available. We are, therefore, on an ambitious programme to add market-specific APMs to our platform.
“Swish is the latest APM, complementing the already over 100 APMs on the Ecommpay platform. This means it is now easier than ever for our clients to expand into the Swedish e-commerce market which is projected to reach over $13billion by the end of 2025.”
A key feature for Swish transactions is real-time processing with Swish transactions landing in a receiver’s account almost immediately – a fact that significantly supports merchant cash flow.
Swish’s simple payment experience also aims to reduce the number of abandoned baskets. In fact, the high penetration of Swish in Sweden means it is likely to reduce cart abandonment by up to 69 percent. The app’s use of multifactor authentication also reduces the risk of fraud.
“The addition of Swish is an important step in our mission to make payments fully accessible and inclusive to all consumers, regardless of geography,” added Helm-Visscher. “Merchants can enable regional payment methods for more than 200 countries across Europe, Asia, Latin America and North America, ensuring every customer sees a familiar payment method when checking out.”
