Making the future of
payments come true

Outsourcing and payments in a digital-first world

Banks, PSPs, and regulators must adapt to a future where outsourcing and payments infrastructure go hand-in-hand, explains P27’s Head of Compliance Mathilda Stjernberg.

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P27 and Covid-19

Around the world the Covid-19 pandemic is spreading rapidly. Even though the situation is difficult and extraordinary, P27 will continue to maintain our momentum. Most activities are progressing according to plan. The only significant difference is how we communicate between employees, owners, regulators, and the payments community.  Our current assessment is that the situation will not impact P27’s plans and roadmap to deliver the Nordic payments platform.

P27 continues to carefully follow developments in all countries where we have operations, which is Denmark, Finland, and Sweden. In the light of this, P27 has taken a number of measures to limit the spread of the coronavirus. Among other things, we have decided not to participate in physical meetings and all P27 employees are requested to work from home until further notice. By the time P27’s payment platform is launched in 2021, a well-tested contingency plan for situations like this will also be implemented to assure operational stability. We would also like to express our gratitude to all healthcare professionals working to make the world safer as we battle to contain the coronavirus.

P27 is a company owned by Danske Bank, Handelsbanken, Nordea, OP Financial Group, SEB, and Swedbank. P27’s vision is to break down barriers for trade and financial interaction between the Nordic countries. P27’s mission is to make payments more efficient in the Nordic currencies and the Euro with a payment infrastructure for domestic and cross-border payments. An open-access and common infrastructure will bring further harmonization to the European payments landscape.

Simplified payments and lower costs

P27 will enable real-time, batch, domestic and cross-border payments to be carried out quickly and at low cost on a secure and versatile platform. The platform will initially allow payments to flow instantly between people and businesses within the countries of Denmark, Finland, and Sweden, something that will benefit growth and development in the region. The platform will be designed to be expandable to allow for payments across the rest of the Nordics as well, which will contribute to the strengthening of the Nordic payment’s ecosystem.

Beneficial for society as a whole

Efficient means of payments are crucial for the integration of financial services as well as the economy as a whole. By developing common Nordic standards for payments, P27 will provide tangible benefits for the Nordic societies like increased trade, growth, and employment as well as improved foundation for innovation.

Cross-border payments – as easy as sending a text message

The vision of P27 is to establish, within the Nordics, the first integrated region for domestic and cross-border payments in multiple currencies. Secondly, by aligning its standards with those of Single Euro Payments Area and applying to payments in the eurozone, P27 will bring further harmonization to the European payments landscape.

P27 is a joint initiative by Danske Bank, Handelsbanken, Nordea, OP Financial Group, SEB, and Swedbank, exploring the possibility of establishing a pan-Nordic payment infrastructure for domestic and cross-border payments in the Nordic currencies and the Euro. The P27 name derives from the project’s aim to improve payments for the 27 million inhabitants in the Nordics.

An open-access and common infrastructure will deliver a state-of-the-art payment experience to customers across the Nordics, as well as provide a foundation for future developments.


The official launch of P27 services is subject to regulatory approvals and therefore P27 will not conduct any business activities until required regulatory approvals are obtained

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Frequently answered questions are better than frequently asked questions

What is P27?

P27 is a partnership between several leading banks in the Nordic region with the goal of creating the world’s first digital platform that will allow businesses and consumers to make real-time, cross-border payments to one another. The platform is intended to serve the 27 million people living in the Nordic region, which is where name P27 comes from.

What does the ownership structure look like in P27?

P27 is a joint project between six of the largest banks in the Nordics: Danske Bank, Handelsbanken, Nordea, OP Financial Group, SEB and Swedbank. The ownership of P27 is divided equally among these owner banks.

Why have the banks initiated this project?

The Nordic banks have a long tradition of innovation and developing solutions benefitting the consumers. Examples include Bankgirot, Vipps, MobilePay, NemID, Bank-ID and Swish, which all are successful projects developed through joint bank projects. Additionally, the banks have the resources and the competence to realise a project of this size.

Why did P27 emerge in the Nordics?

The Nordics have long been on the leading edge of digital innovation, including online banking and cashless payments. Banks in the region also have a long tradition of innovation and cooperation. Thus, P27 can be seen as an extension of this tradition of technological innovation and cooperation, where we connect our collective resources, competence, and ambition to create a platform that really will transform payment experience for everyone in the region.

Why is there a need for a platform like P27?

Because making cross-border payments should be as easy as sending a text message. The world is increasingly digital and mobile – and that evolution has huge benefits for both businesses and consumers. But not all of those benefits have been realized yet, especially when it comes to payments.

We believe P27 will revolutionize payments in the Nordics. And we view the platform as being on the leading edge of a paradigm shift in how money moves around the world.