More than 100 Norwegian banks goes in as owners of the mobile payment solution with DNB. Among them are SpareBank1 alliance, who had the competition app mCash.
DNB, SpareBank 1 Alliance, Eika Alliance, Sparebanken Møre and 15 other independent banks who also are part-owners of Frende Forsikring has entered into a agreement where the parties together will develop Vips as “the Norwegian mobile wallet”, says the press statement.
Bjerke becomes chairman
– Vips has been the number one payment between friends and has quickly rolled out payment both on mobile, online and in physical stores.
Vips will this year be available in far more places than we have seen until now. Through this collaboration, we are better equipped to win the race in competition with Nordic and international players, “says Rune Bjerke, CEO of DNB and Chairman for Vips.
New and independent company
DNB is the largest shareholder, with about 52 percent of the shares. SpareBank 1 Alliance will own 25 percent, the independent banks 12 percent, Eika Alliance 10 percent and Sparebanken Møre 1 percent.
Source: NTB scanpix / Norway Today