According to the press release, Visa’s clients and partners will now be able to take advantage of the Vipps platform to create their own digital wallets and offer customers new ways to pay, be paid, and manage their money.
The partnership comes to support increasing demand for secure, digital commerce solutions worldwide with more consumers and businesses than ever embracing digital payments as the preferred way to manage their everyday spend, due to the COVID-19 pandemic. In Europe, over 75% of Visa payments are now contactless and June 2020 saw ecommerce transactions increase by more than 25% year-on-year in twenty European countries.
Vipps is a payment and eID provider in the Nordics. It was reported that their mobile wallet has achieved nearly 80% market penetration locally. Vipps also provides universal user capabilities across private and public sector through eID and digital signing.
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