Vipps

Name

Vipps

Legal name

Vipps MobilePay AS

Website

https://vipps.no

Company type

Private

Founded year

2015

Operating status

Operating

Headcount range

251–500 employees

Ownership category

akta.pro rank

Product category

Mobile Payments

akta.pro primary industry

A2A Payment Initiation Service Providers (PISPs) (FSAMAFAB)

Keywords

• Mobile payments
• Digital wallet
• Contactless payments
• Peer-to-peer transfers
• Payment platform

Headquarters

HQ city

Oslo

HQ country

Norway

HQ region

Europe

Offices3 records

Markets served

GTM type

B2B and B2C

Offering type

Software

Cost components

Personnel, Technology or R&D, Infrastructure, Operations, Marketing or Sales

Revenue model

1. Peer-to-Peer Transfer Fees: Vipps charges 1% fee when users transfer more than 5000 NOK to the same person within 24 hours. Standard transfers under 5000 NOK within 24 hours are free.
2. International Transfer Fees: International money transfers to Sweden, Denmark, and Finland cost 4% of the amount transferred, in addition to the recipient country's currency conversion using Norges Bank exchange rates.
3. Box/Kasse Collection Fee: Free to create a box/kasse for collecting money, but 19 NOK is deducted from the total collected for every 1000 NOK raised.
4. Transaction Revenue: Vipps MobilePay generates transaction revenue from payment processing across consumer and business segments. Transaction revenues grew 30% in 2025. The company generated 2.1 billion NOK in revenue in 2025.
5. Gift Sending Fee: Sending a gift in Vipps costs 8 NOK per gift.
6. Vipps Checkout Sale: Vipps sold Vipps Checkout to Kustom for approximately 490 million NOK, covering approximately 3000 online stores with ~7 billion NOK in transaction volume.

Pricing tiers

Go-to-market motion3 records

Distribution channels7 records

Marketing channels6 records

Core offering

Vipps MobilePay is a unified Nordic mobile payment super-app serving approximately 12.5 million users across Norway, Denmark, Finland, and Sweden. The platform combines peer-to-peer money transfers via phone number, contactless NFC in-store payments (tæpping), business payment acceptance via Vippsnummer, bill payment (eFaktura), cross-border Nordic transfers, and group expense settlements in a single mobile application.

Product overview

Vipps MobilePay is a unified Nordic mobile payment super-app serving approximately 12.5 million users across Norway, Denmark, Finland, and Sweden. The core platform combines peer-to-peer money transfers (Vennebetaling), contactless NFC in-store payments (Tæpping), business payments via Vippsnummer, bill payment (eFaktura), international Nordic transfers, and group settlements (Oppgjør) — all within a single mobile app. Beyond core payments, the platform extends into a broader financial and lifestyle super-app through loyalty programs (Vipps VIP, Fordeler), wish lists, gift sending, donation collection (Boks), used car purchases (integrated with FINN and NAF), and a minor-friendly version (Vipps under 15). The company also operates a proprietary AI fraud detection model called Olga that analyzes all transactions in real time. The platform's architecture spans consumer-facing apps (Vipps for individuals), business solutions (Vipps for bedrifter), and developer-facing services. Following the 2023 merger with MobilePay (Denmark/Finland), the company operates as Vipps MobilePay AS with offices in Norway, Denmark, and Finland.

Differentiator

Problem solved

Functional benefit

Quantifiable outcome

• 98% reduction in social engineering fraud in first six months after launching Olga AI
• +5 more outcomes

Named customers5 records

Segments4 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration6 records

AI capability3 records

Feature5 records

Partnerships

13 partnerships are on record, tiered core and minor.

• KustomcoreChannel Partner/ Reseller/ Distributor · 26 March 2026Swedish company that acquired Vipps Checkout for approximately 490 million NOK. The transaction covers approximately 3000 online stores with ~7 billion NOK in transaction volume. Kustom becomes recommended checkout partner with strategic distribution partnership for broader and faster distribution in Nordic e-commerce.
• BancomatcoreStrategic or Co-development Partner · 3 February 2026Italian payment system partner in MoU for European payment interoperability. The partnership aims to connect European payment solutions across borders, enabling phone-number-based person-to-person payments. Part of a 13-country collaboration covering ~130 million users.
• BizumcoreStrategic or Co-development Partner · 3 February 2026Spanish payment system partner in MoU for European payment interoperability. The partnership connects Vipps with Spanish payment infrastructure for cross-border transfers. Part of EMPSA organization collaboration.
• SIBS-MB WAYcoreStrategic or Co-development Partner · 3 February 2026Portuguese payment system partner. Already successfully completed first test payment from a Vipps user to a MB WAY user in the Nordic region. Part of European payment interoperability expansion.
• EPI Company (Wero)coreStrategic or Co-development Partner · 3 February 2026European Payments Initiative company behind the pan-European wallet Wero. Strategic partner in the MoU to connect European digital wallets across borders. Part of 13-country collaboration covering up to 72% of EU and Norway population.
• NAFminorStrategic or Co-development PartnerNorwegian Automobile Association partnership for used car purchases. NAF's premium purchase contract includes fee-free payment via Vipps up to 500,000 NOK. The digital contract is approved by Forbrukerrådet.
• FinnminorStrategic or Co-development PartnerNorwegian marketplace partnership for used car purchases. Finn's digital purchase contract enables fee-free Vipps payments up to 500,000 NOK. The contract is approved by Forbrukerrådet.
• McDonald'sminorGTM or Marketing PartnerLaunch partner in VIP loyalty rewards program where users can earn rewards when they tap in McDonald's stores.
• DIGG PizzaminorGTM or Marketing PartnerLaunch partner in VIP loyalty rewards program where users can earn rewards when they tap in DIGG Pizza locations.
• Nordisk Film KinominorGTM or Marketing PartnerLaunch partner in VIP loyalty rewards program where users can earn rewards including lottery entries for travel vouchers worth up to 100,000 NOK.
• BankAxeptcoreTechnology or IntegrationNorwegian domestic payment card scheme that Vipps integrates with for contactless NFC payments. Vipps tæpping works at all terminals accepting BankAxept cards, providing universal coverage in Norway.
• EMPSAcoreStrategic or Co-development PartnerEuropean Mobile Payments Association that Vipps MobilePay has been an active participant in since 2025. Facilitates cross-border payment interoperability between European mobile payment systems.
• EuroPA CollaborationcoreStrategic or Co-development PartnerEuropean payment interoperability collaboration that Vipps MobilePay has participated in since 2025. Already completed first test payment from Vipps to MB WAY through this collaboration.

Scale indicators17 records

Recent moves10 records

Expansion highlights7 records

Broad incumbents

• PayPal: Global online payments incumbent with established Nordic merchant and consumer penetration. Comparable to Vipps as a competing digital wallet and online checkout alternative, and increasingly as a peer in cross-border P2P transfers.
• Klarna: Swedish-born payments and BNPL network with deep Nordic merchant and consumer penetration. Comparable to Vipps as a large Nordic fintech competing for the same merchant checkout and consumer payment moments, even though the core model (BNPL vs account-to-account) differs.
• Revolut: Global digital bank and payment app with a strong Nordic user base. Comparable to Vipps because both target consumer cross-border spending, FX, and everyday payments across the same geographies and customer segments.
• Nets (Nexi Group): Leading Nordic card acquirer and payments processor, owner of BankAxept infrastructure that Vipps's tæpping relies on. Comparable as a Nordic payments incumbent on whose rails Vipps partly depends, and a potential merchant-side competitor as the European payments market consolidates.
• Google Pay: Android-based NFC and online wallet from Google with broad merchant acceptance globally. Comparable to Vipps as an alternative contactless payment rail competing for the same in-store transaction moments in Norway, Denmark, Sweden, and Finland.
• Apple Pay: Global NFC mobile wallet from Apple and a direct alternative to Vipps's tæpping product. Comparable as a competing in-store and online payment method in the same Nordic merchant and consumer base, particularly now that EU regulation forces Apple to allow third-party NFC wallets.

Direct peers

• Swish: Sweden's dominant real-time mobile payment app jointly owned by major Swedish banks. Directly comparable to Vipps as a Nordic phone-number-based P2P and merchant payment platform, and currently the primary competitor for Vipps's Sweden expansion.
• Trustly: Stockholm-based A2A payment initiation specialist enabling bank-account payments for merchants across Europe. Comparable to Vipps because both route account-to-account flows, and both compete for Nordic and pan-European e-commerce and merchant acquiring volume.
• MobilePay (Danske Bank heritage): Originally Denmark and Finland's leading mobile wallet, which merged with Vipps in 2023 to form the current Vipps MobilePay AS. Directly comparable as the Nordic super-app that became one half of Vipps's current entity.

Emerging players

• Wero (EPI Company): Pan-European wallet under the European Payments Initiative backed by major European banks and explicitly part of the February 2026 interoperability MoU with Vipps MobilePay. Comparable as a partner and emergent competitor for cross-border European P2P payments.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks5 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/Vipps
• LinkedInno.linkedin.com/company/vipps
• Instagraminstagram.com/vipps

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles9 records

Subsidiaries1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Vipps