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October 31, 2020
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Visa and Vipps team up to accelerate mobile payments in Europe

•             Visa clients in Europe can now take advantage of the Vipps digital wallet platform

•             More consumers in Europe will be able to use their mobile devices to pay in-store or online, to send and receive money, and better manage their payment accounts

Visa and Vipps, the leading digital wallet in Norway, on Thursday announced a strategic partnership to accelerate mobile payments in Europe. Visa’s clients and partners will now be able to take advantage of the Vipps platform to create their own digital wallets and offer customers new ways to pay, be paid and manage their money.

Covid-19 has accelerated the demand for secure, digital commerce solutions worldwide with more consumers and businesses than ever embracing digital payments as the preferred way to manage their everyday spend. In Europe, over 75 percent of Visa payments are now contactless and June 2020 saw ecommerce payments increase by more than 20% year-on-year in fourteen European countries .

Cătălin Crețu, General Manager for Romania, Slovenia, Croatia and Malta at Visa said:

“Today, the ability to pay digitally and make cashless payments in-stores, online, in-app, is no longer just a convenience but a necessity. As the leading payments brand, we are keen to make sure consumers and businesses have access to secure, digital commerce, regardless of where they live or what mobile device they have. With the increase of demand in digital as a result of the pandemic, it is impressive to see that Romania recorded one of the highest growth rates in online payments with Visa across Europe, of over 60% in June 2020 compared to the same period of last year.

Our partnership with Vipps will make it possible for our bank partners across Europe to develop and create easy to use digital payment products and wallets, meeting the growing demand for contactless, online and mobile payments.” 

Rune Garborg, CEO at Vipps, said:

“Our approach to international expansion is through collaboration. We believe a collaboration between Visa; the world leader in digital payments and Vipps; the world’s most successful bank-backed wallet will create magic. Together we are enabling issuing banks to offer smarter and simplified digital payment services to their customers in Europe and beyond. Together with Visa we will use our best practices, expertise, and experience, to create services that will excite people through world class simplification.”

Vipps is a Norwegian payments app that allows people to send, pay and receive money at a touch of button. Since launching in 2015, it has achieved 85 percent market penetration, attracting 3.7 million users in Norway . Over the last year Vipps has experienced 145 percent increase in transactions in Norway.

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