23 – The future of Nordic Payments with Lars Sjögren, CEO at P27

februari 26, 2020

Lars Sjögren, CEO at P27 Nordic Payments is the guest in Episode number 23 at Fintechpodden. Lars is sharing very interesting information about..

Lars Sjögren
Lars Sjögren

During Sthlm Fintech Week 2020, Lars Sjögren from P27 was invited to talk about the new Nordic Payments Platform P27. He gave a very interesting presentation and we at Fintechpodden took the opportunity to take some of Lars’s time to do an episode with him. In the episode, Lars openly shared the vision and ambitions behind P27 where he described the new payments platform as the first of its kind in the world. Described as a wonderful instant payments network that will function cross-border and multi-currency.

P27 as an innovation enabler

For those unfamiliar with P27, the new Nordic payment network can most easily be described as a Swish but for Nordic transactions between the banks. And for those non-Nordic readers/listeners, who may not know what Swish is, it can be described as a mobile payment app that works in real-time between persons and small businesses. P27 will, in other words, work as an instant real-time payment platform for cross-border transactions within the Nordics. The name “P27” stands for “27 million people”. The owners of P27 is a group of large banks, namely Danske Bank, Handelsbanken, Nordea, OP Financial Group, SEB and Swedbank. The purpose of P27 is to enable real-time payments, batch payments and cross-border payments to be made quickly at a fraction of the cost that we have today in the Nordic region.


P27 is a unique collaboration that unifies instant payments within the Nordic area. It is being built in different layers which will enable not just banks to interact with the platform but indirectly also FinTech’s, through banks, to interact with the platform. In addition to enabling innovation for banks and Fintech’s, P27 will also cut costs dramatically, by around 80%. The network will In January 2021 go live with four banks, Handelsbanken, Swedbank, Danske Bank and the fintech Klarna being the first players to use the platform.

Lars Sjögren



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