Swish

What Swish does

Swish (operated by Getswish AB, Swedish org. number 556913-7382) is a Stockholm-headquartered FinTech company founded in 2012 that operates Sweden's dominant bank-integrated mobile payment service. The platform enables instant peer-to-peer and consumer-to-business payments via smartphone by connecting directly to participating Swedish banks, so funds move between bank accounts in real time without users having to enter account numbers. Beyond core payments, Swish supports QR code-based payments at point-of-sale, split-bill functionality for shared expenses, recurring payments for subscriptions (launched with Swedbank and Nordea), and a charitable donations feature, with adjacent tools such as a QR Code Generator and a Demo Store for merchants and developers.

The product surface spans three distribution layers: a private/consumer app, a company onboarding and acceptance portal, and a participant infrastructure that allows banks and financial institutions — including indirect participants — to connect to the Swish network. Distribution is anchored by Sweden's largest banks (Swedbank, Nordea, SEB, Handelsbanken, and others), which embed Swish directly into their mobile banking apps and effectively onboard users at the point of bank-account activation. Merchant adoption is supported through a self-serve company portal, partner integrations, and a developer portal (developer.swish.nu) with API documentation.

Monetization is transaction-based: Swish charges merchants and businesses per-transaction fees for payment processing, while consumer-side peer-to-peer usage remains free. The company is privately held (ownership not publicly disclosed in the source material, with the implied structure being bank-controlled), employs 51–100 people, and operates exclusively in Sweden. In 2025–2026 the company expanded its Stockholm office footprint via a lease with Fabege for over 1,200 square metres at Drottninggatan 29, with occupancy planned for spring 2026.

Name

Swish

Legal name

Getswish AB

Website

https://swish.nu

Company type

Private

Founded year

2012

Operating status

Operating

Headcount range

51–100 employees

Short description

Swish operates Sweden's dominant bank-integrated mobile payment service, enabling instant peer-to-peer and QR code merchant payments for Swedish consumers and businesses through participating banks such as Swedbank and Nordea, monetizing via transaction fees.

Ownership category

akta.pro rank

Product category

Mobile Payments

NAICS

Financial Transactions Processing, Reserve, and Clearinghouse Activities (522320)

SIC

Finance Services (6199)

akta.pro primary industry

Bank-to-Bank Transfers & Pay-by-Bank (Consumer & Merchant) (FSAMAFAC)

akta.pro secondary industries

Embedded Payments (Pay-ins, Pay-outs, Wallets) (FSAGALAB), Payments Operations (ACH/Wire/RTGS, SWIFT, SEPA, Checks) (FSABALAB), Direct Debit / ACH Collections & Recurring Billing (FSAMAGAE)

Keywords

• Mobile payment services
• Bank-to-bank transfers
• Person-to-person payments
• QR code payments
• Point-of-sale payments

Headquarters

HQ city

Stockholm

HQ country

Sweden

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Software

Cost components

Technology or R&D, Personnel, Operations, Infrastructure, Marketing or Sales

Revenue model

1. Transaction-based payment processing: Swish generates revenue through transaction fees charged to merchants and businesses for processing payments. As a mobile payment infrastructure connecting consumers and businesses through Swedish banks, the platform takes a percentage or fixed fee per transaction.

Go-to-market motion1 record

Distribution channels3 records

Marketing channels5 records

Core offering

Swish operates a mobile payment platform that enables instant bank-to-bank transfers between individuals and merchants directly through smartphone apps. The service is collectively owned by the major Swedish banks and embedded in their mobile banking apps, allowing private users to send money, split bills, and donate to charity, while enabling businesses to accept in-store and online payments via QR codes. Approximately 8 million private users and 290,000+ businesses in Sweden use the platform.

Product overview

Swish is a unified Swedish mobile payment platform providing instant payment services for private individuals, businesses, and financial institutions. The core offering includes the Swish app for P2P and P2B payments, integrated business payment solutions, and participant infrastructure for banks. Supporting tools include a QR code generator for marketing, a demo store for merchants, and a developer portal for API integration. The platform operates as a single integrated service rather than modular add-ons, with the Swish brand encompassing all payment functionality across consumer, business, and institutional segments.

Differentiator

Problem solved

Functional benefit

Products and services

• Swish Mobile Payment Platform
• Swish for Private
• Swish for Company
• Swish for Participants

Segments2 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Two partnerships are on record, tiered core and minor.

• Swedish Banks (Swedbank, Nordea, SEB, Handelsbanken)coreTechnology or IntegrationMajor Swedish banks serve as the foundational distribution and infrastructure partners for Swish. Banks embed Swish functionality in their mobile banking apps and facilitate the underlying bank transfer infrastructure that enables Swish transactions. Swedbank and Nordea have specifically launched recurring payments functionality with Swish.
• FabegeminorOthersFabege, a Swedish property company, signed a lease agreement with Swish for over 1,200 square metres at Drottninggatan 29 in Stockholm with occupancy planned for spring 2026. This is a real estate lease arrangement for Swish's new office space.

Scale indicators2 records

Recent moves6 records

Expansion highlights4 records

Broad incumbents

• Google Pay: Google Pay is a global mobile and online wallet with broad Nordic merchant acceptance. Overlaps with Swish in P2P, in-store, and online checkout use cases and represents a structural competitor for incremental transactions.
• Apple Pay: Apple Pay is the dominant global wallet competitor in in-store and in-app payments, increasingly accepted by Nordic banks and merchants. Competes with Swish for consumer mindshare and merchant transaction share at the point of sale.
• Klarna: Klarna is a Stockholm-headquartered fintech with broad payments, BNPL, and banking products. Same geography and adjacent product set, but a fundamentally different business model (consumer credit-led) versus Swish's pure payment-rail focus.
• PayPal: PayPal is a globally established digital wallet and online payment network with long-standing Nordic user bases. It competes with Swish on online checkout, P2P, and increasingly on in-store QR/contactless flows.

Emerging players

• Stripe: Stripe is a global payment infrastructure provider serving online merchants, including Swedish ones. It overlaps with Swish's merchant acceptance business at online checkout and competes for the same merchant integrations and developer mindshare.

Direct peers

• Bizum: Bizum is Spain's bank-consortium mobile payment platform, offering instant P2P and merchant payments across nearly all Spanish banks. Highly comparable to Swish in ownership structure, distribution model, and product scope.
• Vipps: Vipps is Norway's dominant bank-backed mobile payment app, originally spun out of DNB. It offers P2P, merchant payments, and recurring billing — a near-identical operating model to Swish, but with cross-bank Norwegian ownership.
• MobilePay: MobilePay is a Nordic mobile payment app owned by Nexi that originated as a Danske Bank initiative and now operates across Denmark, Finland, and Norway. It is the closest functional peer to Swish — bank-backed, P2P-led, QR/merchant payment rails, Nordic footprint.
• iDEAL: iDEAL is the Netherlands' leading online bank-to-bank payment scheme, run as a consortium of Dutch banks. It is structurally analogous to Swish: bank-direct, low-cost, dominant domestically, primarily checkout/e-commerce rather than P2P.
• Payconiq International: Payconiq is a Benelux-based mobile payment platform backed by major banks (BNP Paribas, ING, KBC), offering QR and in-app payments to merchants and consumers. Closely parallels Swish's QR-led, bank-anchored model in a different geography.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks5 records

Key highlights6 records

Customer concentration

• Xx.com/getswish
• Facebookfacebook.com/getswish
• LinkedInlinkedin.com/company/getswish

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Funding overview

Funding rounds1 record

Investors2 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Swish