Norwegian payments app Vipps is making a bid to break out of its home market through a strategic partnership with Visa.
Under the arrangement, Visa’s clients and partners will be able to take advantage of the Vipps platform to create their own digital wallets and offer customers new ways to to send, pay and receive money via their mobile phone.
Antony Cahill, managing director European regions at Visa says: “Our partnership with Vipps will make it possible for our bank partners to develop and create easy to use digital payment products and wallets, meeting the growing demand for contactless, online and mobile payments.”
Collectively owned by 110 Norwegian and launched in 2015, Vipps has achieved 85 percent market penetration in its home territory, attracting 3.7 million users in Norway.
Rune Garborg, CEO at Vipps, says: “Our approach to international expansion is through collaboration. Together we are enabling issuing banks to offer smarter and simplified digital payment services to their customers in Europe and beyond.”