View all newsletters
Receive our newsletter - data, insights and analysis delivered to you
  1. News
  2. Company news
January 21, 2014updated 04 Apr 2017 4:09pm

Swedbank winding down mobile payments service just six months after launch

The Swedish-based Swedbank has announced it is winding down its mobile payment service just six months after launching it.

By Ellie Chambers

The Swedish-based Swedbank has announced it is winding down its mobile payment service just six months after launching it.

The QR code-based payment system, Bart, failed to attract enough interest amongst consumers, with only 20,000 signing up to use the service on their smartphones.

Swedbank’s head of mobile payments, Carl Molinero, said: "We have not reached the volume that we wanted, it is a contributing factor. This applies to both the dealer side as the consumer side."

Press officer Anna Sundblad said: "It is true that we will wind Bart down in the spring of 2014. The decision is taken."

Both Sundblad and Molinero declined to say how much the bank had invested in the m-payment service.

In June 2013, Swedbank announced it was rolling Bart out across all Axfood stores in the country.

The Swedish grocery chain had QR code cameras mounted next to all the cash registers, but this partnership was not enough to spur customers to take up Swedbank’s Bart service.

 

Related articles:

MasterPass onboards Nordic banks

Klarna purchases Sofort for $150m to grow on the European e-commerce market

Seamless, bpost Bank launch SEQR mobile payment solution in Belgium

NEWSLETTER Sign up Tick the boxes of the newsletters you would like to receive. A weekly roundup of the latest news and analysis, sent every Wednesday.
I consent to GlobalData UK Limited collecting my details provided via this form in accordance with the Privacy Policy
SUBSCRIBED

THANK YOU

Thank you for subscribing to Electronic Payments International