Settle app becomes „the first pan-European mobile payments app to interconnect all European Union countries (plus Norway) in a single, collaborative payment network”.

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. 

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,” according to the press release.

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,” the company says.

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.

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.

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.”

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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 developed the first mobile payments platform in the Nordics and launched the first mobile payments scheme in Norway (mCASH).