Swedish banks will start testing the P27


After two years of careful preparation, more than a dozen banks connected to the Swedish mobile payment system Swish are expected to test the pan-Nordic payment platform P27 by the end of the year.

Supported by Danske Bank, Handelsbanken, Nordea, OP Financial Group, SEB and Swedbank, the noble ambition of P27 is to create a state-of-the-art common payment platform in the Nordic countries.

P27’s client relationship manager, Jacob Groth, says it is currently being onboarded and tested with real clients in Sweden, two years after the 2020 takeover of Bankgirot, Sweden’s only clearing house for mass payments.

The current schedule calls for instant SEK brews to be finalized in the second half of 2022, followed by SEK batch brews to be finalized in early 2023.

While Swedish banks may be the first to join the P27 platform, their Danish counterparts are not far behind. As in Sweden, a transformation committee has already been set up in Denmark to facilitate the transition to the P27.

The Danish central bank’s decision to include the Danish krone in the European Central Bank’s TIPS real-time settlement system, followed by an industry decision to move to the P27, was another milestone for the P27.

A common clearing system in Denmark, Finland and Sweden, as well as instant settlement in TIPS, will harmonize the way payments are made in the Nordic countries, says Groth.

“Even though the trip is now a bit longer than expected, it’s still a really good fit,” he says. “We now have central banks in the region moving in the same direction. This type of alignment will allow us to more easily leverage our vision of an integrated northern payments region. »


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