Vipps deficit of more than 150 million NOK

VippsVipps. Photo: vimeo.com

Vipps had 157 million krones worth of expenses than revenues last year.The head of service says it is due to investments in technology.

 

The annual report for Vipps is presented on Wednesday, but E24 has been given access to it on Tuesday. According to the website, operating revenues amounted to 30 million NOK, while operating expenses were 187 million NOK. The costs include 88 million NOK for consultants, development and operation of IT systems.

“The volume we currently have on Vipps, today, we did not imagine for ourselves in 2015. We must now admit that,” says Rune Garborg, Managing Director of Vipps.

About 350,000 transactions are conducted with Vipps each day, according to the annual report. The operation of the service is now separated from DNB, but the bank has a 51.5 percent stake.

© NTB scanpix / #Norway Today

 

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