Welcome to the bright new future of domestic and international payments!
We are building a rock-solid and safe platform that will enable innovative direct, peer to peer transactions, but still cut the cost to a fraction of traditional solutions.
What sets us apart is the way we are disrupting traditional ways of working. We are changing the world of payments at its core by innovative and value-adding solutions.
It is time for a change and although we are pioneers, we are sincere, knowledgeable, and responsible. Always with a guiding ambition to ensure everyone gets exactly what the expect from P27 and our platform.
We are here to change the world of payments, and you are welcome to join the movement!
While the Nordic payment markets are among the most advanced in the world, technology constantly evolves, and provides customers with new means of payment.
However, differing national standards impede the development of up-to-date payment services fit for a borderless Nordic region. Reengineering the underlying infrastructure to provide up-to-date products and services is therefore necessary.
P27 aims to provide a future-proof infrastructure, enabling faster adaptation to new technologies, and helping the Nordic countries to maintain their position as some of the world’s most digital societies.
Customers perceive high costs, opaque pricing, and extensive lead time on cross-border payments as barriers, and hence limits the exchange of goods and services.
By harmonising and standardising the clearing of payments across the Nordics, P27 strives to provide cross-border payments with the same transparency, low fees, and lead times that characterise domestic payments today.
European authorities push for regulation that increases competition and lowers fees on payment transactions, in particular on cross-border payments.
However, different infrastructures and standards in the Nordics makes it costlier for banks to implement, and challenging to develop competitive services.
P27 will make it easier for banks to adapt to upcoming regulations, reduce implementation costs, and facilitate the development of new services.
Frictionless trade is important for Nordic societies, and both businesses and consumers have an interest in increased trade. However, high transaction costs and out-of-date customer experiences when paying cross-border pose potential barriers and cause friction.
P27 aims to reduce these barriers to trade by making cross-border payments easier and cheaper for businesses and consumers alike.
Create a level playing field and improve accessibility for Payment service providers in the Nordics.
Simplify and standardise products and services across the Nordics, and reduce localisation, e.g., regional products/services
Ensure interoperability with the euro countries, as well as best practices for risk mitigation, resilience, and cybersecurity.