Swish is a Swedish mobile payment system for instant payments between bank accounts. Users link their phone number to their bank account and send or receive money within seconds; identification runs through the Mobilt BankID app. Payments by QR code are also possible. Since 2014 companies and associations can receive payments via a Swish number, and Swish is also used for online shopping and for self-scanning in shops. The system works through an app and the participating banks; a Swedish bank account and a Swedish personal identity number are required.
Swish was launched in 2012 by six large Swedish banks. The service is provided by the Swedish company Getswish AB, which is owned by these banks (Danske Bank Sverige, Handelsbanken, Länsförsäkringar Bank, Nordea, SEB and Swedbank). No non-European owner is known. Payments are cleared through the Bankgirot system and settled via the Riksbank's RIX-INST instant payment system. Swish is not open source; a European organisation should check which data is processed where.