Visa partners with Vipps to drive European mobile payments

By Georgia Wilson
Visa announces its latest partnership with Norwegian digital wallet organisations Vipps to accelerate mobile payments in Europe...

Over the years, Visa has partnered with multiple organisations to drive innovation within the financial sector. Its latest strategic partnership with Vipps will allow Visa clients and partners to utilise Vipps platform to create their own digital wallets, as well as offer customers new ways to pay, be paid and manage money.

With COVID-19 accelerating the demand for these kinds of solutions around the world, Visa has seen an increase in consumers and businesses adopting digital payments as a preferred method for managing everyday spending.

Visa reports that more than 75% of its payments are now contactless, with June 2020 seeing an increase of over 25% year-on-year when it comes to ecommerce transactions in Europe.

“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 payment 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,” commented Antony Cahill, Managing Director European Regions at Visa.

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

Since its launch in 2015, Vipps has achieved a market penetration of 85%, has 3.7mn users in Norway, and in the last year experienced a 145% increase in transactions in Norway.

“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,” commented Rune Garborg, CEO at Vipps.

For more information on business topics in Europe, Middle East and Africa please take a look at the latest edition of Business Chief EMEA.

Follow Business Chief on LinkedIn and Twitter.

Share

Featured Articles

DHL, AbbVie and Hilton among best places to work in Europe

The Best Workplaces in Europe are successfully navigating choppy economic waters, while also fighting hard to retain and invest in their people

Abu Dhabi Airports prepares for Terminal A opening

A decade in the making, Abu Dhabi International Airport welcomes 6,000 volunteers to test operational readiness of stunning new Terminal A building

Business Chief expands portfolio with new look and coverage

Business Chief Middle East & Africa launches with fresh new look and extended coverage of the region, with exclusive executive interviews and insights

How Octopus Energy grew to become an industry giant

Sustainability

Perkbox CEO: How to support employees through tough times

Human Capital

How Middle East is embracing the future of digital finance

Corporate Finance