Settle Group, the European mobile payment pioneer from Norway has made its Settle app available in all European Union countries. This update enables anyone who has a mobile phone number in any of the 28 European markets where Settle is available to send and receive money, nationally or cross-border, instantly, using only phone numbers. Moreover, businesses across Europe can use Settle to accept instant payments for their cross-border sales, whatever their currency.
Settle app becomes the first pan-European mobile payments app to interconnect all European Union countries (plus Norway) in a single, collaborative payment network. After making its services available in Denmark, Romania, and Sweden at the end of 2021, Settle is now enabling Czechia, Hungary, and Poland, together with cross-border payments across its entire footprint. Settle is thus empowering people and businesses across Europe to transform the way they pay and get paid. Now anyone with a mobile number in any of the 28 supported European markets can instantly send and receive money as well as pay to businesses, in any European national currency.
Users of the Settle app can pull money 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 safely kept in the multi-currency Settle Account or it can be paid out for free to the user’s bank account. The Settle app now also enables users to exchange funds to and from any supported currency without any hidden fees. This new feature allows users to pay with Settle while traveling abroad within the EU or when buying products online from foreign merchants, on top of already supported national ones.
Businesses can increase their sales by connecting to their customers all over Europe using Settle’s frictionless payment experience, in-app advertising and loyalty solutions. Settle supports a large variety of use cases – e-commerce, in-app, in-store, POS, payment links, QR codes – without any additional hardware, offering merchants the flexibility they need in the fast evolving digital economy.
All these developments put Settle in the lead of all mobile payment services in Europe in terms of capabilities for people and businesses, being the first app to connect the entire European single market. Furthermore, Settle is planning to expand its footprint by partnering with locally licensed players outside of the EU.
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 and 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 28 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.
