Vips won the Norwegian mobile payment marked

VipsViips.Photo: Norway Today Media

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.

The initiators represent 106 Norwegian banks, said DNB in ​​a statement Monday morning.

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

Vips has hitherto been part of the DNB Group, but is now an 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