Vipps MobilePay users in Denmark, Norway, and Finland can now enjoy seamless person-to-person (P2P) payments using just a phone number, eliminating the need for cumbersome Iban numbers. This revolutionary service allows Vipps users in Norway and MobilePay customers in Denmark and Finland to transfer money across borders effortlessly.
Cross-border transfers will cost senders four percent of the transaction amount, with additional fees potentially added by banks. However, receiving payments remains free, making it a cost-effective solution for many.
While the service currently focuses on P2P payments, it will soon expand to include payments to the 325,000 merchants and organizations using Vipps MobilePay in these three countries. Additionally, Sweden is set to join the program later this year, further extending the network’s reach.
This innovative feature follows the 2021 merger of Danske Bank-owned MobilePay and Vipps, backed by a consortium of Norwegian lenders, creating a Nordic mobile payments powerhouse with over 11 million customers.
Rune Garborg, CEO of Vipps MobilePay, expressed excitement about the new service: “Our users have long asked for a simpler way to send money across the Nordics. Now, we have the solution ready. Goodbye to long Iban numbers and tedious button-pushing. This is the first of many steps we are taking to bring the Nordics even closer together.”
For more information on Vipps MobilePay’s new cross-border P2P payment feature, visit Vipps and MobilePay.
