Vipps is merging with Mobilepay and Pivo

Vipps - MobilePayPhoto: Gorm Kallestad / NTB

Vipps, Danske Bank’s Mobilepay, and Finnish Pivo are merging. The new company will have 11 million users in Norway, Denmark, and Finland.

Together, they will offer better solutions for people and companies across the Nordic region and become more competitive in the European payment market.

“Competition in payments is global, not local, and we need an even stronger footprint to compete with international players. By combining three of the most beloved brands in the Nordic region and building an even stronger technology platform, we can create world-class payment simplification for everyone,” Rune Garborg, CEO of Vipps, said.

Garborg will lead the company.

The new company will have a total user base of 11 million consumers, over 700 million annual transactions, and 330,000 companies throughout Finland, Denmark, and Norway.

“Better solutions”

“It will create a much stronger starting point for giving customers – both end-users and sellers – more and even better solutions,” CEO Claus Bunkenborg in Mobilepay added.

The company will be headquartered in Oslo and be subject to Norwegian regulations.

Source: © NTB Scanpix / #Norway Today / #NorwayTodayFinance

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