LONDON–(BUSINESS WIRE)–Allied Wallet, a leading provider of online payment processing offering various payment solutions in 196 countries all over the world, is now compatible with several new payment options in Sweden to support its growing e-commerce market projected to reach over €12.3 billion by 2022.
Sweden has a population of about 9.9 million and is the third largest country in the European Union. They are continually ranked with not only the highest per capita income levels in the world, but also for their general happiness, human development, and democracy.
Sweden’s leading industries are fashion, electronics/media, and books. Fashion alone accounts for a volume of roughly €2.9 billion annually.
93% of Swedes are online, as compared to only 41% globally, and they are very comfortable shopping online and across borders. Their e-commerce market had an annual volume of over €10.5 billion and the average user spends about €1494 annually online.
“It’s no secret that e-commerce is very popular in Sweden,” says CEO Andy Khawaja, “…and three out of every four homes participate in online shopping – but users wanted alternative ways to pay… payment methods that suit them better. We’ve striving to provide that.”
Only 45% of Sweden’s population uses credit cards while 100% of its population is banked. It is only natural that its population would prefer bank transfer payment methods.
Allied Wallet is supporting bank transfer payments with new compatibilities that are popular in Sweden including: Entercash, Nordea e-betalning, and Trustly.
Sweden has the best 4G coverage in Europe and 76% smartphone penetration. 82% of Swedes use online banking and 37% prefer to use their phone to shop online.
Allied Wallet is supporting more eWallet solutions to support users that prefer to use their Sweden-based digital wallets including services like Swish, SEQR, and Zimpler.
Swish has 5.4 million users and SEQR processes 5.3 billion transactions annually. These popular payment methods can be replenished and used online, with a mobile device, and some can even be used in stores.
By integrating these payment methods, Allied Wallet is further connecting buyers, sellers, and the global population as a whole.
“Whether your currency is Swedish Krona, Euro, British Pound, or U.S. Dollar, Allied Wallet makes transactions simple. We’re very happy to support Sweden’s very profitable e-commerce growth with these new compatible payment options,” CEO Khawaja added.
About Allied Wallet:
Allied Wallet continues to revolutionize the e-commerce industry by introducing new and innovative payment processing solutions for online merchants, enabling them to send and receive global payments. With PCI compliant merchant services for nearly any business size, Allied Wallet provides a state-of-the-art payment gateway to optimize online transactions. Please visit www.alliedwallet.com.