Connect with us
Our website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website.

BANKING

Nets delivers instant P2P payments in partnership with Norway’s leading mobile wallet provider, Vipps

Customers of all banks in the Vipps partnership will soon benefit from real-time payments

Nets has announced it has entered into a three-year partnership with Vipps, Norway’s leading mobile payment application provider, to deliver instant P2P payments to customers of all Norwegian banks partnered with Vipps.

Users of Norwegian bank, DNB, primary stakeholder of Vipps, are already benefitting from instant payment transfers enabled by Vipps’ payment app. The partnership with Nets will enable the extension of this real-time payment service to customers of the other 100 banks in the country partnered with Vipps, representing 40% of the total userbase of the mobile wallet.

Rune Garborg, CEO of Vipps, comments, “Using the common infrastructure for instant payments will eventually make it possible to transfer money in real-time for consumers in all Norwegian banks. In this first phase, the 100 banks involved in the Vipps partnership will have this opportunity. When making this agreement, it was really important for us to find a partner with experience and credibility regarding the processing of payment transactions in Norway.”

Both parties have already begun adjustments to their systems to make the service available in the popular mobile wallet, with real-time payments expected to go live for some of Vipps’ additional bank partners before the end of the year.

JeppeJuul-Andersen, Senior Vice President and head of Domestic Card Schemes across Nets noted, “With this agreement, we will be able to achieve the best of both worlds. We will reuse most of the existing infrastructure we have already delivered with both efficiency and stability for several years, and make the necessary adjustments to accommodate for future needs. We are looking forward to continuing and expanding the good partnership we have with Vipps and their ownership banks.”

Continue Reading