Visa Partners with FinTech Vipps

Visa Partners with FinTech Vipps

September 10, 2020

Visa is partnering with Norwegian digital-wallet company Vipps to accelerate mobile payments in Europe.

The Vipps app enables consumers to send, pay and receive money. Since launching in 2015, company officials claim it has achieved 85 percent market penetration, attracting 3.7 million users in Norway. Over the last year Vipps has experienced a 145 percent increase in transactions in the Scandinavian nation.

Visa officials said in a release on the move that its clients in Europe will be able to use the Vipps platform on mobile devices to pay in-store or online, and to send and receive money.

“In Europe, over 75 percent of Visa payments are now contactless and June 2020 saw ecommerce transactions increase by more than 25 percent year-on-year in twenty European countries.”

“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,” said Visa officials. “In Europe, over 75 percent of Visa payments are now contactless and June 2020 saw ecommerce transactions increase by more than 25 percent year-on-year in twenty European countries.”

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Joan Goodchild

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