Danske Bank shuts MobilePay in Norway, holds talks with Vipps

Wednesday 11 October 2017 | 12:41 CET | News

Danske Bank said it is shutting down MobilePay in Norway and is negotiating a distribution agreement with rival Vipps, which was spun off by DNB (formerly Den norske Bank) earlier this year. Rival bank Nordea Norway announced separately that it has joined forces with Vipps.

The Vipps app has almost 2.6 million users in Norway, or about three out of five people in the country, said Nordea. Danske Bank said it, too, hopes to be able to offer its customers Vipps.

Nordea Norway CEO Snorre Storset said Nordea wants to be part of Vipps' development in future. Vipps recently gained authorisation to set up as an independent company, said Nordea, the second largest bank in Norway, and has established its own HQ in Oslo. Nordea said it is not buying a stake in Vipps.

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