Turn your phone into a payment terminal & accept in-person payments without transaction fees
Business overview
Location | London, United Kingdom |
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Social media | |
Website | sway.money |
Sectors | Finance & Payments Mixed Digital/Non-Digital Mixed B2B/B2C |
Company number | 13808531 |
Incorporation date | 20 Dec 2021 |
Investment summary
Business highlights
- Gross payment volume grew to £100K within the first 6 months*
- Over £108k in payments processed in the month of April 23*
- 260+ small businesses have used Sway to date
- Transactions grew by 48% from Feb-March 2023*
Key features
Idea
Introduction

We turn phones into payment terminals. This means a business can take digital payments without external card machines, initiating an easy and instant transfer from the consumer’s bank account directly to the merchant’s. We built a digital payment system disconnected from cards.
An estimated £48B is spent per year on card fees in Europe alone, and small businesses are the most affected by it, paying 2-4% per transaction. We exist to disrupt this model and provide a simple, easy and affordable alternative to cards or cash.


Open Banking regulation (PSD2) opened the door to innovation in the payment sector, plus card fees keep increasing.
Research by Juniper Research says Open Banking payments will reach €102bn/year by 2026, a 2,800% increase over the next five years.

Monetisation strategy
Transactions are a basic need of every business and as such should remain free. We charge for the value created on top of payments. Below is a breakdown of our available plans.

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