Connecting 400 million phone numbers for instant mobile payments across Europe

Settle Group, the European mobile payment pioneer from Norway has just released an update of their Settle App. The update enables anyone who has a mobile phone number from any of the 25 European markets supported by this update, to send and receive money, nationally or cross-border, instantly, using only phone numbers.

Mobile payment apps, such as Mobilepay, Swish, Bizum, Tikkie, Twint and a few others are locally popular ways for people and businesses to pay and get paid. Up until now, no such app has interconnected between the countries. With the updated version of the Settle app, anyone with a mobile number in any of the initial 25 European markets, can instantly send and receive money as well as pay to businesses, in any of the currencies valid in these markets. This development puts Settle in the lead of all such mobile payment services in Europe in terms of capabilities for people and businesses.

When transacting with the Settle app, money can be pulled from supported cards, bank accounts, a line of credit, or a free prepaid wallet account, called the ‘Settle Account’. The money received can either be kept safely in the multi-currency Settle Account or the money can be paid out to the user’s bank account for free. The new app enables users to exchange funds to and from any supported currency without any hidden fees.

Settle Group CEO and founder, Daniel R. Döderlein, comments:

“This is by far the most exciting update to our offering in the history of Settle. We are here to simplify, make available and connect financial services for people and businesses. With more than 400 million phone numbers now capable of transacting with each other, cross-border, in their local currency, we are delivering on our promise to build the new payment network of Europe. I’m humbled and grateful to work with such a talented team of dedicated fintech enthusiasts. There are only so few chances in life to make something really impactful, and this is my proudest entrepreneurial moment so far in life. I hope people and businesses of Europe make use of what we have created.”

About Settle
Settle is on a mission to digitize money. With the Settle app, everyone has easy access to their money and borderless financial services. Settle enables valuable connections between people and businesses, locally and remote, in-store and online. With their catalog of easy to use payment acceptance tools, self service or API-based, Settle empowers businesses to get paid and sell more in the new digital economy, without necessarily relying on any payment hardware.

Settle is building the new European payment network, servicing people and businesses in 25 European markets on a collaborative model where banks and local trusted brands are invited to join for free.

Settle is the result of 10-years worth of fintech and mobile payments history. The team behind Settle have been making a name for themselves as leaders in mobile payment and commerce since 2010. From their headquarters in Norway, they’ve spent more than a decade developing an award-winning and world-class financial services platform. They developed the first mobile payments platform in the Nordics and launched the first mobile payments scheme in Norway (mCASH), impacting the lives of millions of people and helping to fundamentally change the way people pay and get paid. This experience and technology is now being applied by Settle Group to establish the largest collaborative mobile payment network across Europe.