“Can a merged Nordic mobile wallet become the dominant pan-Scandinavian payments infrastructure layer for both consumers and merchants, replacing card rails with account-to-account open banking flows?”
Founded separately as Vipps (Norway, 2015) and MobilePay (Denmark, ~2013), the two mobile payment leaders merged in 2023 to create a pan-Nordic payments network. The combined entity operates as a self-licensed payment institution processing wallet, card, and account-to-account payments for consumers and merchants. The company is now divesting its Checkout product to Kustom and integrating open banking via Tink, signalling a shift toward focusing on core wallet/payment rails rather than full-stack checkout ownership.
Vipps Mobilepay processes payments through Vipps MobilePay (self-operated).
Vipps Mobilepay connects to bank accounts through Tink.
Vipps Mobilepay integrates with Accounting partner API (Report API).
The Embedded Finance Index 2026 maps 3 layers in Vipps Mobilepay's stack: Payments / PSP (Vipps MobilePay (self-operated)); Open banking (Tink); Accounting (Accounting partner API (Report API)).
Vipps Mobilepay is founded in 2023 and headquartered in Oslo, Norway.
Get a read on where your own stack stands against Vipps Mobilepay and the rest of its category — what they built versus bought, which providers they use, and where the gaps in your own strategy and competitive set actually are.