Visa has announced that it has enabled the launch of three new digital wallets across the region of Europe, in partnership with BBVA, Klarna, and Vipps MobilePay.
Following this announcement, these are the first Visa-enabled wallets to use NFC (Near Field Communication) technology in order to allow HCE (Host Card Emulation) on iOS wallets. This initiative took place as a major regulatory shift under the EU’s Digital Markets Act opened NFC access to third-party wallets, enabling optimised competition and development in mobile payments. In addition, this also allows more European players to bring new, improved experiences to market and give consumers more choice.
The expanding role of digital wallets
According to the official press release, a Visa research showed that mobile payments are currently representing more than half (59%) of all ecommerce transactions in Europe, and that figure is expected to rise to three-quarters (75%) by 2030. With just under a third (32%) of European customers saying they plan to rely exclusively on mobile wallets for purchases, there is also a clear shift toward wallet-centric ecosystems, driven by the overall demand for speed, simplicity, and control.
With this in mind, Visa has worked with three issuers and a domestic scheme across Europe to launch the new iOS wallets:
BBVA Pay, made available through the BBVA Mobile Banking App, represents a single issuer wallet launched in the region of Spain. It was designed to leverage Visa’s own software developer toolkit (SDK) in order to directly integrate the Visa Token Service (VTS), a technology that protects sensitive card information through the process of replacing it with a secure digital token. The wallet will also offer a new payment experience along with a secure, future-ready experience.
Klarna (the Klarna app) has launched its wallet in 14 European countries, aiming to optimise the app's functionality and make it a single and secure experience for Klarna users on both iOS and Android. Furthermore, Klarna, having launched the Klarna Card powered by Visa Flexible Credential, will focus on providing consumers with further choice, as well as an integrated experience, with the addition of tap-to-pay as part of the Klarna app.
The Nordic mobile wallet company Vipps MobilePay has launched a Visa co-badged wallet in the region of Norway, with Denmark, Finland, and Sweden to follow. The wallet was developed in order to combine local familiarity with global reach, as existing users and customers will be enabled to tap and pay anywhere Visa is accepted, with their stored cards automatically being enrolled for contactless use, alongside the everyday features they already enjoy in Vipps MobilePay.
Italy’s domestic scheme BANCOMAT has also announced the launch of a pilot project with Visa to enable the BANCOMAT wallet for customers and users. This initiative aims to make secure and contactless payments through the BANCOMAT Pay service, anywhere Visa solutions are accepted. The pilot was based on VisaPay, Visa's new wallet solution, which was designed in order to provide security and scalability by leveraging Visa's improved tokenisation capabilities. Testing of the solution is scheduled for early 2026.
At the moment, digital wallets are quickly evolving from simple payment tools to platforms that support peer-to-peer transfers, real-time bank payments, and government IDs. Furthermore, with the use of expanded NFC access, wallets could also store digital keys, loyalty cards, event tickets, and more, aiming to provide more personalised services through a single, secure interface.
As Europe’s overall digital landscape continues to evolve through developments in Open Banking, Embedded Finance, and digital identity, financial institutions and companies have new opportunities to develop more secure and personalised experiences for their customers. With this in mind, Visa’s infrastructure is expected to support multiple payment types, including cards, account-to-account, and tokenised assets, focusing on giving partners the flexibility to build future-ready solutions that meet the needs of today’s consumers.
