Vipps MobilePay launches cross-border P2P payments between Denmark, Norway and Finland
Vipps MobilePay, a Nordic mobile wallet comprised of Norway’s Vipps and Denmark’s MobilePay, has unveiled that its 11.6 million users can now transfer money between Norway, Denmark and Finland.
Vipps MobilePay launches cross-border P2P service
Writing on LinkedIn, the joint enterprise describes this move as a “top priority” ever since Vipps and MobilePay’s merger in 2022.
In an endeavour to say “goodbye to long IBAN numbers and tedious button-pushing”, users within the three listed countries are now able to tap into peer-to-peer (P2P) payment capabilities by using their phone numbers, says Rune Garborg, CEO of Vipps MobilePay.
“This is the first of many steps we are taking to bring the Nordics even closer together,” adds Garborg.
Transferring funds cross-border will cost users 4% of the transaction amount. However, individuals sending money within the same country and currency will not be charged
The firm also revealed plans to expand the service from just P2P transactions to enabling payments to the 325,000 merchants and institutions that use Vipps MobilePay across the three countries.
Moreover, Vipps MobilePay hints that “in the fall of 2024” Swedes will be able to tap into the solution following Vipps’ entry into the Swedish market.
“Sweden is the biggest Nordic country. And of course, Swedes should be able to be a part of this feature. We are therefore very eager to launch the Vipps App in the Swedish market,” states Garborg.
