New mobile payments ecosystem coming to Finland

New mobile payments ecosystem coming to Finland

OP Bank, Nordea and Danske Bank have launched a new real-time, multibank mobile payments platform in Finland. The platform was built by Tieto and Automatia (the latter operates the three banks’ shared ATM network).

Siirto will enable consumers to send and receive money online ad via mobile by using just mobile phone numbers. All transfers will be completed in real-time, with immediate update to the user’s bank account, says Automatia.

“We are creating Finnish payment service history, and enabling consumers to transfer money between the various banks in seconds,” states Marko Vilo, Automatia’s MD. “This will dramatically change consumers’ payment behaviour.”

The new platform is PSD2-ready and offers an open interface to connect any licensed payment service provider to the service. Automatia hopes it will lay the foundations for the country’s “new payments ecosystem”.