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Vipps – Norway’s biggest mobile payment app getting Nordea onboard


vipps

writer icon Brooke Illummont     ISB   |   Business     🕐 12. Oct. 2017


The second largest Bank in Norway Nordea, is now joining the mobile payment app Vipps. Nordea is happy about joining the solution and so are their Norwegian consumers.
When the collaboration was first announced on Nordea’s Norwegian webpage, it didn’t take long before their Norwegian customers started downloading the mobile payment app. Now 200.000 Nordea customers have downloaded the app.

In Denmark they have Mobile Pay, in Sweden they have Swish and now Norway are very close to having Vipps as their joined solution. Nordea has joined Vipps and Danske Bank are not far behind. Danske Bank had earlier offered Mobile Pay to their Norwegian customers, but now they are changing that, according to Aftenposten.

Nordea joins as a partner and will distribute Vipps to its approximately 1 million customers in Norway. However, the bank does not enter as a shareholder, as DNB and a number of other Norwegian banks have done.

The start of the app
Vipps was developed by the biggest bank in Norway: DNB (Den Norske Bank). Although the app was developed by DNB, the application is open to customers from other banks in Norway. In fact, 40% of users are not customers in DNB.
Vipps was released on the 30th of May 2015 and by the 5th of November 2015, had become the largest mobile payment app in Norway with more than a million users. A year later they had 1.900.000 users. “People took to the app with open arms” said Vipps Director Rune Garborg, according to the DNB Feed.

CEO of Nordea in Norway Snorre Storset told E24 that they started considering being part of Vipps when they got more than 100 banks joining the solution in February this year.

"We have always been concerned that we will find a common solution for mobile payment in Norway. Vipps received new partners earlier this year, and then it was time for us to look further into how we could help develop the best solutions for Norway, "said Storset to E24.





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