Vipps, MobilePay launch cross-border P2P payments in the Nordics

By Gloria Methri

Vipps has partnered with MobilePay to launch a new P2P payment solution for customers between Denmark, Norway, and Finland.

Starting today, Vipps and MobilePay users in the Nordic countries can easily send money to each other, only using a phone number.

“Our users have for a long time asked us to simplify sending money across the Nordics. Now, we have the solution ready. That means goodbye to long IBANs and tedious button-pushing.  This is the first of many steps we are taking to bring the Nordics even closer together,” said Rune Garborg, CEO of Vipps MobilePay.

A transfer will cost 4 percent of the transaction’s amount, and the fee will be stated in the app when users send money. In addition, the user’s bank will have an exchange fee. It costs nothing to receive the money, and it will still be free of charge to send money to friends and family within each country and in the same currency.

“We aim to offer the simplest solution. Sending money will now be very, very easy whether you’re sharing a meal with Nordic friends or sending a money gift to your Nordic relative,” said Garborg.

While the service initially involves sending money from person to person, it will soon also be possible to pay the 325,000 merchants and organisations that use Vipps MobilePay in the three countries.

In the fall of 2024, Swedes will be able to download the Vipps app and send money to their neighbouring countries. This will work in the same simple way where you only need a phone number.

“Sweden is the biggest Nordic country. And, of course, Swedes should be able to be a part of this feature. We are therefore very eager to launch the Vipps App in the Swedish market,” added Garborg.