Swish Payments obtains Visa Membership ahead of European Pilot

Swish’s Visa membership complements the provider’s MasterCard membership, which was secured in January 2015. As a licensed financial institution with full Visa and MasterCard membership, Swish will now be able to acquire merchant accounts and process Visa and MasterCard transactions for merchants across Europe, beginning with an mPOS pilot to be launched in Malta by the end of 2015.

The mPOS provider’s agreements with Visa and MasterCard will reduce its direct acquiring costs and accelerate the merchant boarding process. Without the need for an external acquiring bank to acquire merchant accounts, Swish is positioned to partner with non-bank organisations such as Telecommunications Companies, Payment Service Providers, Mobile Network Operators and others looking to deploy an end-to-end mobile commerce platform.

The Swish mPOS platform includes card readers, Android and iOS supported mobile applications, a full-featured payment gateway, and various web portals tailored to the needs of merchants, including large-scale enterprises and SMEs. Swish also provides transaction and merchant boarding APIs which enable full integration into any external system, such as existing POS systems or mobile applications.