From today, Swedes will also join the Nordic Vipps MobilePay family. Now, everyone in Sweden, Denmark, Norway and Finland can send money to each other in just a few seconds.
Denmark, Norway, Finland – and now also Sweden. These are the four countries that, as of today, can send money to each other via the Vipps or MobilePay app. From today, Swedes can download the Vipps app, allowing them to receive and send money to Nordic friends and family in the same simple way that users in Denmark, Norway, and Finland have been able to since June.
“Our goal is to simplify the entire Nordic region, so we are incredibly happy and excited to launch Vipps in Sweden. Cross-border payments between Norway, Denmark, and Finland have been a success, and we expect a significant increase in the number of cross-border transactions now that the largest country in the Nordics joins in on the fun”, says Rune Garborg, CEO of Vipps MobilePay.
Exploring the Swedish market
In addition to cross border payments within the Nordic countries, Swedes will be able to use functionalities that lives in the Vipps app. The Vipps MobilePay CEO is particularly excited about how Swedes will appreciate the 'shared expenses' feature. Because it can be used between Swedes and across borders, Garborg considers it to a perfect tool to split the cost after for instance a trip or a dinner party.
“We look forward to offering Swedish users the same simple and secure payment experience that millions already enjoy in Norway, Denmark, and Finland,” says Garborg.
Fit for fight
Vipps and MobilePay have 12 million users and 500.000 points of sales in Denmark, Norway, and Finland.
“Since MobilePay and Vipps merged, we have been dreaming of having the Nordics included in a simple and easy app that everyone can figure out how to use. We compete against the largest brands in the world, and now we have the perfect foundation to launch new features that position us strongly in the competition for the Nordic market,” concludes Garborg.
For now, the app can be used between individuals, but soon, both MobilePay and Vipps can also be used to make payments in other countries' stores that already accept payments with one of the two solutions.
Until 1st November, the price for sending money across borders is reduced from four percent to two percent. It costs nothing to receive money.
The user needs to put in a card for sending money. In order to receive money, a recipient card must be added as well. All swedes over the age of 15 who have a debit or credit card, can send money to the neighbouring countries. But for a swede to receive money from a user of Vipps or MobilePay (both from SE, NO, DK) the Swedish user’s bank needs to support the service.
The Vipps app will be available for both iOS and Android in Sweden today.