Vipps Mobilepay
“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?”
Founded2023
HQOslo, Norway
IndustryFintech / Consumer banking
The story
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.
Product timeline
2015
Vipps launched in Norway by DNB as a mobile peer-to-peer payment app.· banking
2017
Vipps became an independent company owned by Norwegian banking consortium.· pivot
2021
MobilePay (Danske Bank subsidiary) expanded to Finland and became independent.· pivot
2023
Vipps and MobilePay merged to form Vipps MobilePay AS, enabling cross-border payments across Norway, Denmark, Finland, and Sweden.· acquisition
2024
Vipps MobilePay integrated Tink for direct bank payment (open banking / account-to-account) capabilities.· banking
2025
Vipps MobilePay announced sale of its Checkout product to Kustom, which will rebrand it as Kustom Checkout.· pivot
Regulated entities
Payment Institution / E-Money
Norway
Vipps MobilePay AS
The stack
Payments / PSP
Open banking
Accounting
Accounting gap: minor