24 October 2017
visit www.response.ncr.com

Danske Bank terminates MobilePay in Norway; enters talks with Vipps

11 October 2017  |  6349 views  |  0 Smartphone keypad

Danske Bank is to terminate its MobilePay app in Norway and throw its weight behind the rival Vipps service.

Vipps, originally developed by DNB Bank, and MobilePay have been competing for two years for market share in Norwegian mobile payments. But the tide has recently turned in Vipps' favour, following a February deal between DNB and 100 other local banks to acquire a 48% stake and spin off the service as an autonomous joint venture.

Having failed in its assault on the Norwegian market, MobilePay - which boasts more than 3.5 million users and is installed on 90% of consumer smartphones in Denmark - will now be switched off and Danske will instead enter talks with Vipps about a distribution deal.

Nordea, which had buddied up with Danske Bank in October last year to offer MobilePay to its customers in Denmark and Norway, is similarly hitching its wagon to Vipps.

Jesper Nielsen, member of the Executive Board in Danske Bank Group, and chairman of MobilePay, says: ”The past two years we have learned a lot and our presence in the Norwegian market have strongly contributed to the development of the Norwegian mobile payment market. As a challenger with heavy focus on product development, we take great pride in our contribution in ensuring user-friendly solutions for the market. Now we will start writing a new chapter in this story.

Our ambition is to settle on an agreement that enables us to offer our users and business customers great solutions in Norway. We will contribute with our many years of experience from the Nordic market. I believe this combination will benefit the bank’s customers who deserves that we at all times ensure the best possible solutions for them.”

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

Nets deliver instant mobile payments to Vipps partner banks

Nets deliver instant mobile payments to Vipps partner banks

12 September 2017  |  6503 views  |  0 comments | 5 tweets | 5 linkedin
DNB spins off Vipps mobile payment service

DNB spins off Vipps mobile payment service

13 February 2017  |  8391 views  |  0 comments | 7 tweets | 10 linkedin
Nordea ditches Swipp m-payments for Danske Bank's MobilePay

Nordea ditches Swipp m-payments for Danske Bank's MobilePay

13 October 2016  |  9742 views  |  1 comments | 8 tweets | 12 linkedin
Danske Bank integrates PowaTag into MobilePay

Danske Bank integrates PowaTag into MobilePay

26 May 2015  |  5976 views  |  0 comments | 12 tweets | 5 linkedin

Related company news

 

Related blogs

Create a blog about this story (membership required)
visit www.atos.netvisit www.niceactimize.comvisit www.innotribe.com

Top payments topics

Most viewed Most shared
Mastercard to roll out blockchain APIMastercard to roll out blockchain API
19899 views comments | 31 tweets | 43 linkedin
HSBC partners Bud for open banking trialHSBC partners Bud for open banking trial
15306 views comments | 23 tweets | 32 linkedin
Sibos 2017: API or the highwaySibos 2017: API or the highway
11041 views comments | 12 tweets | 23 linkedin
Poppy Appeal goes contactlessPoppy Appeal goes contactless
8619 views comments | 15 tweets | 16 linkedin

Featured job

Competitive base + commission + benefits
Denmark, Finland, Iceland, Norway or Sweden

Find your next job