Major Scandinavian mobile wallets are merging

The mobile wallets Vipps from Norway, MobilePay from Denmark and Pivo in Finland merge. Millions of users benefit from interoperability at checkouts.

The three apps, developed by local banks, announced the merger of services last week. Vipps will own 65 percent of the shares, Danskebank 25 percent and OP Financial Group ten percent.

Door the fusion creates one of the largest wallets in Europe. It wants to be able to compete with comparable offerings from Apple and Google.

Users of the apps can easily make payments at store checkouts, but also transfer money between themselves in a Tikkie-like way. In the future, banking services such as personal financial management and borrowing may be added, as well as online marketing services for affiliated retailers.

Sweden’s Swish, which introduced the mobile wallet concept in the region, is not part of the pact.

Vipps has a total of 11 million users, processes more than 700 million transactions annually and has 330,000 business customers in Finland, Denmark and Norway.


Source: Mobile – Emerce by www.emerce.nl.

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