Vipps Mobilepay waves goodbye to IBAN in Nordic unification

Close up of a man using mobile smart phone.
Editorial credit: TATSIANAMA /

Vipps MobilePay has launched a unified Nordic payment solution, allowing peer-to-peer (P2P) transfers via phone numbers.

The launch aims to enhance connectivity among the Nordic countries, enabling 11.6 million users of Vipps and MobilePay in Denmark, Finland and Norway to send money to one another using just a phone number.

Rune Garborg, CEO of Vipps MobilePay, commented: “Our users have for a long time asked us to simplify sending money across the Nordics. Now, we have the solution ready. That means goodbye to long IBAN numbers and tedious button-pushing. This is the first of many steps we are taking to bring the Nordics even closer together.

“Our aim is to offer the simplest solution. Sending money will now be very, very easy whether you’re sharing a meal with Nordic friends or sending a money gift to your Nordic relative.”

Transferring money will incur a fee of 4% of the transaction amount, clearly displayed in the app at the time of sending. Additionally, the user’s bank may charge an exchange fee. However, receiving money is free of charge, as well as sending money within the same country and currency to friends and family.

Initially focused on P2P transfers, the service will soon expand to allow payments to the 325,000 merchants and organisations across Denmark, Finland and Norway that use Vipps MobilePay.

Although currently unavailable in Sweden, later this year, Swedes will have the ability to download the Vipps app and send money to their neighbouring countries.

“Sweden is the biggest Nordic country. And of course, Swedes should be able to be a part of this feature. We are therefore very eager to launch the Vipps App in the Swedish market,” Garborg added. 

Elsewhere in the region, Danish neobank Lunar partnered with Scandinavian Airlines to launch the region’s first debit card with EuroBonus points earlier this week.