Nordea Norway switches to DNBs Vipps from Danske Mobilepay

Thursday 12 October 2017 09:45 CET | News

Nordea has announced that will offer rival DNB’s mobile payment app to customers in Norway instead of Danske Bank’s Mobilepay. 

Although Nordea’s Norwegian unit had partnered with Danske’s Mobilepay, consumer adoption of Vipps determined the bank to change its strategy. Copenhagen-based Danske Bank said it would no longer offer the Mobilepay service to Norwegian customers, and that it would instead seek a distribution deal with DNB.

The Vipps app currently has 2.6 million users and said it aims to hit 3.5 million in 2018. Norway has a population of about 5.3 million.

In February, Vipps announced a takeover of smaller Norwegian rival mCash, leaving DNB with a 52 % stake while a group of more than 100 smaller banks would own the remaining 48%. Nordea will not take a stake in Vipps.

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Keywords: Nordea, Norway, mobile payments, mobile banking, banks, DNB, Vipps, MobilePay
Categories: Banking & Fintech | Online & Mobile Banking
Countries: World
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Banking & Fintech