What is it:
Betalo is an App which lets you make payments using your payment card. You can pay your bills, send money to bank accounts, and even send money abroad.
How it works:
Upon opening the app for the first time you are asked to log in using your Swedish BankiD. Then you enter your e-mail and phone number. After that you can register your payment card and begin making payments.
The app interface is very simplistic, which makes all the transactions feel transparent. That way you feel like there is no hidden cost or no small-printed trap you might have missed. Everything you would want to see when it comes to the sensitive topic of handling money is there at first sight.
Anyone in Sweden who wants to make simple international payments without having to log into your online bank via a desktop browser.
If you are from Sweden then you are most likely familiar with the payment service app “Swish”. Swish is a helpful app when it comes to sending money to Swedish bank accounts. However, it does not let you make international payments. With Betalo you can send money to over 30 countries. In doing so you can see all the fees that might apply right away without having to worry about hidden costs.
Swish also does not let you pay all kinds of bills. Betalo, on the other hand, provides you with the opportunity to pay all the bills without first having to use your bank’s website. The app also lets you use all the bonuses and discounts your payment card may be eligible for.
Betalo continues to gain traction within Sweden and has been able to accumulate 90.000 users since its launch in 2012.
Betalo’s users seem to be especially fond of the ensured safety when using the app to make payments. Betalo is a perfect example that simplicity does not always come at the cost of safety. So, Betalo is not only safe because of BankiD, but also because it operates through data centers which been accredited according to PCI level 1. For the less tech-savvy people, PCI level 1 is what the Payment Card Industry (PCI) accredites to merchants who facilitate at least 1 millions transactions per year. It is the highest and most stringent of the PCI levels.