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PPRO partners with Lunar and Swish to unlock Swedish consumer market for global businesses

04.06.2024

Money 20/20 Europe, Amsterdam, 4th June 2024 – PPRO, the leading local payments platform, has announced its partnership with Nordic challenger bank Lunar and Swedish local payment method Swish. This collaboration will enhance PPRO’s instant payment capabilities in Sweden through seamless integration with Lunar’s payment infrastructure and will allow Swedish consumers to use local payment method Swish for payments at more of their favourite global merchant brands.

The Swedish e-commerce market is worth US$43 billion1, with Swedes buying almost US$6 billion worth of goods and services from e-commerce merchants in other countries. Sweden’s main trade corridors between China, Germany, and the United States account for 65% of cross-border sales2 providing more opportunities for merchants in these countries to drive growth.

As Sweden’s go-to mobile payment service, Swish is one of the largest payment solutions in Europe and will be available to PPRO customers in the coming months. Along with debit cards, it is the most common local payment method used for e-commerce purchases by Swedish consumers3, reinforcing the need for global businesses to offer their preferred payment method at checkout.

Motie Bring, CEO of PPRO said, “Swish is replacing cash for Swedish consumers. With over 8 million users, this partnership will enable our global partners and customers to tap into the Swedish e-commerce market at scale. Our partnership with Lunar will unlock a highly complex banking environment and enable not only access to instant payments in Sweden, but also help PPRO expand further across the Nordics.

Ken Villum Klausen, CEO of Lunar added, “In many ways the Nordics is a difficult region to enter for international banks and fintechs. Through our partnership with PPRO, global businesses can offer enhanced payment experiences for merchants targeting Swedish consumers. This partnership is testament to our cutting-edge infrastructure and API solution enabling businesses around the world to gain access to the Nordics.

Urban Höglund, CEO of Swish commented, “Swedes are used to shopping online and with an increasing desire to buy from cross-border merchants, PPRO becoming a technical partner to Swish is mutually beneficial. As a result, Swedish consumers can buy from more global merchants and more merchants can better access the Swedish market.

1. https://info.ppro.com/l/859983/2023-10-09/9ynfj/859983/1696846763GMbjzoGn/PPRO_Sweden_country_report.pdf
2. https://info.ppro.com/l/859983/2023-10-09/9ynfj/859983/1696846763GMbjzoGn/PPRO_Sweden_country_report.pdf
3. https://www.riksbank.se/en-gb/payments–cash/payments-in-sweden/payments-report–2024/trends-in-the-payments-market/payment-habits-in-sweden/swish-on-the-rise-in-e-commerce/

About PPRO

PPRO is a fintech company that provides digital payment solutions to businesses and banks so that they can scale their local payment services through one connection.

Stripe, PayPal, and J.P. Morgan are just some of the names that work with PPRO to accelerate their roadmaps, boost their conversions, and eliminate the complexities of local payments. Find out more at ppro.com

About Lunar

Lunar is a digital challenger bank with a mission to simplify and enrich people’s financial lives, empower them and put them back in control by building the best everyday bank in the Nordics. Founded in Aarhus, Denmark, Lunar currently employs 450 people in the Nordics. In 2019 Lunar received a banking license and is one of few banks with Nordic banking infrastructure and clearing permits in Denmark, Norway and Sweden, thereby able to offer access to cross border payments and clearing in the Nordics to third parties. Today more than 900,000 private and business customers across the Nordics use Lunar. For more info visit lunar.app

About Swish

Swish was launched in 2012 as a collaboration between Sweden’s largest banks and has since become Sweden’s go-to mobile payment service and one of the largest payment solutions in Europe. Swish simplifies everyday life for 8,5 million Swedes and around 300,000 companies and organizations, and has in a short time become Sweden’s strongest brand.