Moreover, Nets will develop the payment platform and support Vipps in the development of new solutions for the scheme.
According to the press release, the two companies will work together to ensure that BankAxept, the national system for debit cards in Norway, remains a convenient payment solution for Norwegian consumers and merchants.
BankAxept was established in 1991 by Norwegian banks. Nets has managed the processing of BankAxept transactions since the scheme went live in 1993. Earlier in March 2019, Vipps signed an agreement with Nets to facilitate invoice and bill payments in Norway.
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