Estonian banks start using mobile-based name payment solution

  • 2020-04-28
  • BNS/TBT Staff
TALLINN – Estonian banks in cooperation with the Latvian central bank have brought to the market a new inter-bank name payment solution that enables payments between private customers to be made only on the basis of the recipient's phone number. Initially, the service will be available in the mobile applications of Swedbank, SEB and Coop Pank and will also be made available to LHV customers in May, the Estonian Banking Association said. The name payment will be processed as an instant payment if possible. "Although the new convenience ser...
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