LeoVegas allows mobile payment by Swish in Sweden

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LeoVegas is launching payment service Swish for the Swedish market on their website offering iGaming services, according to a press statement issued in early January. LeoVegas hopes to decrease transaction costs in the Swedish market as a result of the launch.

Swish is currently considered to be Sweden’s most popular and highly-used payment service, counting approximately 6.7 million users.

LeoVegas expects that the reregulation of the Swedish gambling market, which came into effect 1 January 2019, will allow the group to work more closely with banks and popular local payment services such as Swish, which is currently considered to be Sweden’s most popular and highly-used payment service, counting approximately 6.7 million users. This new payment service both strengthens the offering and will contribute to further cost efficiency for LeoVegas, the group claims

“Today Swish has 6.7 million users and 180,000 connected businesses. We are super pleased with our continued growth, and that Swish is now being offered as a payment method on a growing number of platforms,” says Anna-Lena Wretman, CEO of Getswish AB, the company that owns the payment service Swish.

“LeoVegas’ goal is to offer the ultimate gaming experience for our customers, and we are now making this even better with the launch of Sweden’s fastest deposit method via Swish,” says Gustaf Hagman, CEO of LeoVegas Group. “Faster than this, you cannot make your payments, and we are living up to our epithet: ‘lightning-fast deposits’. In addition, customers are securely identified via BankID. The fact that 63% of all Swedes use Swish every week shows how popular Swish is, and it is therefore extra exciting that LeoVegas is now offering the favourite way of making payments in Sweden. Our teams have worked intensively to be able to launch immediately after the turn of the year. That we are also lowering our transaction costs makes this a win-win arrangement and exemplifies the new opportunities for LeoVegas in the Swedish market,” the CEO adds.

LeoVegas is a critical player in the iGaming market of Malta. Technology development by the group is conducted in Sweden, while operations are based in Malta. LeoVegas offers casino, live casino and sports betting, and operates two global and scalable brands — LeoVegas and Royal Panda — as well as a number of local brands in the UK. The company’s shares are listed on Nasdaq Stockholm.

Launched in 2012 by six large Swedish bank in Sweden in cooperation with the Central Bank of Sweden, Swish is a mobile payment system that has approximately 6.7 million users (50%+ of Swedish population), as is reported to be favoured for its rapid and secure transactions over paying in cash.