Siirto payment service updated, integrating P2P transfers, online shopping, and invoicing

The Finnish payment service Siirto has undergone a significant update, now integrating previously separate functions under one service: peer-to-peer (P2P) transfers, online shopping payments, and invoice reception. A key change for users is the ability to receive invoices directly into their banking application, eliminating the need for separate e-invoice agreements. The service is currently operational within Nordea's and OP Pohjola's banking applications.

Siirto aims to simplify everyday payments by offering real-time transfers via phone number from account to account, direct invoice reception into online banking, and acting as a payment method in over 30,000 Finnish online stores. All payments are processed within the user's own banking application, removing the necessity for separate apps or services.

Siirto's CEO, Mikko Ketola, emphasized the update's goal to build a unified, fast, and secure payment solution for Finland. He stated that the new Siirto consolidates essential daily payment services directly into banking channels. Invoice issuers can now send invoices directly to a consumer's bank as the service relays the necessary information, easing processes for both parties.

Masa Peura from OP Pohjola views the update as a significant enhancement to the customer experience, as all transactions are handled within the familiar and secure banking app. Sara Mella from Nordea highlighted Siirto's role in collaboratively building Finland's payment infrastructure among banks. Substantial adoption is anticipated, with hundreds of thousands of Finns expected to receive invoices directly in their banking apps by summer 2026. Approximately 75% of companies that process e-invoices are reportedly participating in the service.