Nordic P27 project opens office in Helsinki

The opening of a branch office in Helsinki will facilitate P27s collaboration with its Finnish counterparties and clients as well as providing a high level of service and responsiveness to the local market’s expectations and requirements.

The Helsinki office will be located at Epicenter, Mikonkatu 9, in the centre of Helsinki. P27 holds offices in Stockholm and in Copenhagen since August 2019.

Lars Sjögren, CEO of P27 Nordic Payments Platform AB comments:

“I am very pleased to announce that we today are opening our office in Helsinki. We strive to have representation in all our key markets and the opening of an office in Helsinki marks our commitment to serve the Finnish market with high attendance and it will also facilitate the realisation of our vision of an integrated, cross-border payment system for the 27 million people living in the Nordic region. I hope our increased presence will contribute to promote the P27 business and establish a closer dialogue with counterparties for P27 in Finland”.

P27 started in 2017 as a joint Nordic bank project. The platform will enable real-time, batch, domestic and cross-border payments to be carried out quickly and at low cost on a secure and versatile platform.

In October 2019 P27s owners signed a shareholders’ agreement, agreed on a business plan and made a financial commitment that covers all costs up until the company is financially sustainable, expected in 2021. The launch of P27 services is subject to merger approval and the clearing license. In November 2019 P27 submitted its clearing license application to the Swedish Financial Supervisory Authority, the approval is expected in 2020. In June 2019 P27 commissioned Mastercard to operate the platform, which is expected to be ready for its first transactions in the first half of 2021 subject to regulatory approvals.­­­­­­­­­­­