P27

P27

P27 or Project 27 is an innovation in digital payments in Nordic markets, let us know more on this in this blog.
P27
Nordic’s Project 27

What is P27?

P27 is a partnership between several leading banks in the Nordic region with the goal of creating the world’s first digital platform that will allow businesses and consumers to make real-time, cross-border payments to one another. The platform is intended to serve the 27 million people living in the Nordic region, which is where name P27 comes from.

Ownership:

P27 is a joint project between six of the largest banks in the Nordics: Danske Bank, Handelsbanken, Nordea, OP Financial Group, SEB and Swedbank. The ownership of P27 is divided equally among these owner banks.

Nordic Countries:
P27
The Nordic Region consists of:
  • Denmark
  • Norway
  • Sweden
  • Finland
  • Iceland

As well as the:

  • Faroe Islands
  • Greenland
  • Åland

Countries & Currencies supported in P27:

Currencies supported as on Dec-2019 is as below:
  • DKK- Danish Krone
  • SEK- Swedish Krona

These are the “schema currencies” as per the Nordic Payments Directive

P27 current supported countries list:
  • Denmark
  • Norway
  • Sweden
  • Finland
  • Iceland

(Note: Please refer the latest schema document when implementing)

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