Automated recurring payments are no longer just a convenience—they’re a retention machine.
Across the Nordics, local direct debit continues to outperform every other recurring payment method. Customers who pay by direct debit stay longer, churn less, and provide businesses with predictable monthly cash flow and significantly reduced admin.
Waytobill’s surveys show something important:
👉 ~80% of consumers want to use direct debit.
So why isn’t everyone on it?
Because no one offered it to them. The top reason consumers skip direct debit is simple: the option wasn’t presented during sign-up.
We’ve heard whispers for years. Now it’s finally happening.
Swish has already launched the feature, and adoption has been held back by one thing: not all Swedish banks were ready. Today, roughly half of the market is connected. But after conversations with the remaining banks, all signs point to 2026 being the year they join in.
That means: 👉 Recurring Swish will finally become a truly national recurring payment method.
Waytobill’s advice?
Lead with direct debit. Add the local mobile payment method. Give consumers a choice. Maximize conversion. It is as simple as that.
One important nuance: Recurring Swish is mandate-based, just like direct debit, but it’s easier for the consumer to cancel. Merchants will need a process to catch and react to cancellations quickly.
Looking for a checklist on how to prepare?
Stay tuned—we’ll share more soon.
3. ISO 20022: The File Format Upgrade You Can't Ignore
The Nordics are finally aligning on ISO 20022, the payment file format already used in Finland. Sweden, Norway, and Denmark are in implementation mode right now, and 2026 is when companies sending files to banks will start feeling the impact.
What does this mean for you?
It’s a technical change, yes. But it’s a foundational one—getting it wrong slows everything down.
4. PSD3: Europe’s Next Big Regulatory Wave
Just when everyone got comfortable with PSD2… here comes PSD3.
The third Payment Services Directive is being drafted now and is expected to take effect in 2027. It brings tweaks to consumer protection, open banking, and rules designed to increase competitiveness across Europe.
The Nordics could see some meaningful shifts. Why?
Because the region currently enjoys several PSD2 exemptions not found in the rest of Europe.
One example:
💡 Insurance distributors today have special permissions to handle client funds—permissions that might disappear under PSD3.
The final legislation isn’t published yet, but the direction is clear: changes are coming, and companies should start preparing now, not in 2027.
We’ll keep you posted as details are finalized.
2026 Will Be a Milestone Year—Are You Ready?
Between new payment methods, new technical requirements, and new regulation, 2026 is shaping up to be one of the most pivotal years for Nordic payments in a decade.
The companies that win will be the ones that:
✔ Keep direct debit at the core
✔ Add the right mobile payment options
✔ Upgrade early for ISO 20022
✔ Start preparing for PSD3 now, not later
Smart preparation today means smoother operations—and higher customer lifetime value—tomorrow.
If you’d like help evaluating your payment setup or preparing for these changes, Waytobill is here to guide you.