Zimpler Teams With Swish on Frictionless Payments
Instant payments solution provider Zimpler launched a collaboration with Swedish payments app Swish.
The partnership will give Zimpler’s merchants an optimized payment solution that combines Zimpler’s pay-by-bank payments and Swish’s transaction capabilities, helped by the infrastructure of the companies’ Nordic banking partners, according to a Wednesday (July 3) press release.
“Our partnership with Swish allows us to offer a comprehensive payment solution that addresses the needs of both small and large transactions,” said Zimpler CEO Johan Strand in the release. “This collaboration ensures that our merchants can provide a frictionless payment experience to their customers, significantly improving efficiency and satisfaction.”
The partnership combines Zimpler’s pay-by-bank solution for larger transactions with Swish’s efficiency for smaller payments, thus ensuring smooth and reliable payments for fast-moving industries, according to the release.
“To succeed in the Swedish market, especially in fast-moving industries, businesses need to offer a seamless user experience,” the release said. “Swish is the most trusted payment method in Sweden for small transactions, but its daily transaction limits can be restrictive for businesses handling larger amounts. This often leads to failed payments and potential loss of sales. Zimpler’s smart routing platform addresses these challenges by guiding users to the best payment method for each transaction.”
In other instant payments news, PYMNTS Intelligence looked at consumer desire to receive instant refunds.
According to PYMNTS Intelligence’s latest “Generation Instant” report, “How Instant Payments Help Consumers Receive Overpayment Disbursements Faster,” 71% of consumers receive some form of refund disbursements, with the average payout coming to around $68 (lower than the average disbursement amount of $433).
Consumers are 39% more willing to pay a fee to receive a refund disbursement instantly than they would be to receive an average disbursement.
The research also found that when consumers agree to pay a fee for instant access to overpayment refunds and rebates, they prefer paying a percentage fee. The reason? Most of these disbursements are smaller in value, making percentage fees a lower-cost alternative to paying a fixed-rate fee.
“Consumers want overpayment refunds sooner rather than late,” PYMNTS concluded in a separate report. “Merchants and other senders looking to retain and attract customers should consider providing an instant overpayment disbursement option.”
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