MobilePay

What MobilePay does

MobilePay is a Nordic mobile payment platform operated by the Norwegian-registered entity Vipps MobilePay AS, with MobilePay Denmark existing as a branch (filial) headquartered in Copenhagen. Originally launched by Danske Bank in Denmark in May 2013, the service merged with Norway's Vipps and Finland's MobilePay in 2022 and subsequently expanded into Sweden (2024) and Greenland (2026), serving approximately 12.5 million active private users and 400,000+ merchants across the Nordic region.

The platform offers consumer-facing peer-to-peer money transfers, contactless tap-to-pay functionality via Mastercard partnership, group expense sharing, digital gift payments with timed delivery, and Box-based collective money collection. Merchant solutions include MobilePay Number for in-store QR/code payments, MobilePay Online for e-commerce checkout (now distributed via Kustom), Get paid for invoicing and mobile card acceptance, and Mobilt Kassesystem, a mobile point-of-sale. The proprietary Olga AI-based fraud detection system analyzes transactions in real time and has stopped 98% of fraud in Norway since April 2024.

The business model is transaction-fee based: free P2P transfers up to 4,000 DKK per day, 1% above that threshold, 19 DKK per 1,000 DKK for Box collections, 4% on cross-border transfers outside Denmark/Greenland/Faroe Islands, and 0.99% for merchant card acceptance. 2025 consolidated revenue reached 2.1 billion NOK (30% transaction revenue growth year-over-year), with pre-tax losses narrowing from 751M NOK to 135M NOK and the company nearing breakeven after a two-year operational turnaround.

Name

MobilePay

Legal name

Vipps MobilePay AS

Website

https://mobilepay.dk

Company type

Private

Founded year

2013

Operating status

Operating

Headcount range

251–500 employees

Short description

MobilePay is a Nordic mobile payment platform serving 12.5 million users and 400,000+ merchants across Denmark, Norway, Finland, Sweden, and Greenland. It offers P2P transfers, contactless tap-to-pay, group expense sharing, and merchant payment acceptance via a transaction-fee revenue model under parent Vipps MobilePay AS.

Ownership category

akta.pro rank

Product category

Mobile Payments

NAICS

Taxi and Ridesharing Services (485310)

SIC

Radiotelephone Communications (4812)

akta.pro primary industry

Mobile Wallets (NFC Tap-to-Pay / HCE) (FSAMAEAB)

akta.pro secondary industries

POS, SoftPOS & In-Person Acceptance Infrastructure (FSAGABAO), A2A Payment Initiation Service Providers (PISPs) (FSAMAFAB)

Keywords

• Mobile payments
• Contactless payments
• Digital wallet
• Merchant payments
• Money transfers

Headquarters

HQ city

Copenhagen

HQ country

Denmark

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Software

Cost components

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

Revenue model

1. Person-to-Person Transaction Fees: Free for transfers up to 4,000 DKK within 24 hours; 1% fee applied to amounts exceeding 4,000 DKK. Users under 15 years are exempt from fees.
2. Box Collection Fees: 19 DKK per 1,000 DKK collected in MobilePay Box. Fee automatically deducted from total box amount.
3. International Transfer Fees: 4% fee on cross-border transfers to countries outside Denmark, Greenland, and Faroe Islands. Applies to transfers to Norway, Sweden, Finland, and other countries.
4. Business Payment Solutions (MobilePay Number): 0.99% transaction fee for merchants accepting card payments via MobilePay Number. No monthly subscription or hidden fees.
5. Transaction Revenue: Core transaction revenue from the combined Vipps MobilePay platform. 30% growth in transaction revenue in 2025. Revenue reached 2.1 billion NOK in 2025.

Pricing tiers

Go-to-market motion2 records

Distribution channels4 records

Marketing channels5 records

Core offering

MobilePay is a mobile payment application that enables consumers and merchants to send, receive, and accept money digitally. For consumers, it provides peer-to-peer money transfers, contactless card payments at any terminal, online checkout at 31,000+ webshops, group expense splitting, money collection boxes, and digital gift payments. For merchants, it offers payment acceptance via the Get paid app, MobilePay number (6-digit merchant identifier), mobile point-of-sale (Mobilt Kassesystem), and e-commerce checkout integrations. The platform operates across Denmark, Norway, Finland, Sweden, and Greenland with cross-border Nordic transfer functionality.

Product overview

MobilePay is a unified mobile payment platform that consolidates multiple payment services in a single app. The core offering centers on peer-to-peer money transfers (Send og modtag penge) and in-store QR code payments, augmented by Tap with MobilePay for contactless card payments via Mastercard, and MobilePay Online for e-commerce checkout at 31,000+ webshops. Consumer add-on modules include Grupper/Box for group expense sharing and money collection, Pengegaver for digital gift payments with timed delivery, and MobilePay Login for SSO authentication on partner sites. For merchants, the platform offers MobilePay-nummer for receiving payments, Get paid for invoicing and mobile card acceptance, and Mobilt Kassesystem for mobile POS functionality. The platform operates across Denmark, Norway, Finland, Sweden, and Greenland following the Vipps-MobilePay merger, processing over 238 billion DKK annually across 603 million transactions with 12.5 million total Nordic users. Cross-border Nordic transfers launched in 2024, and European expansion is underway through the EuroPA initiative.

Differentiator

Problem solved

Functional benefit

Brands

• MobilePay Box: Digital common fund for collecting and managing shared money for group gifts, class funds, farewell presents, and similar purposes.
• Get paid
• MobilePay Online
• Tap with MobilePay
• Olga

Products and services

• MobilePay Consumer App Mobile payment application for iOS and Android enabling consumers in Denmark, Norway, Finland, Sweden, and Greenland to send and receive money via phone number, pay in stores via QR code or contactless tap, shop online, split group expenses, and collect shared funds. Includes Tap with MobilePay (contactless Mastercard tap-to-pay), Send og modtag penge (P2P transfers), Grupper (group expenses), Box (digital common fund), and Pengegaver (digital gift payments) within a single app.
• MobilePay Online (E-commerce Checkout) Online checkout payment integration for Danish webshops that lets consumers pay via MobilePay by entering their phone number, opening the app, and swiping to confirm. Available at more than 31,000 webshops.
• Get paid (Merchant Mobile Card Acceptance App) Mobile application for Danish merchants to send payment links, invoice customers, accept MobilePay payments via their 6-digit MobilePay number, and (as of April 2026) receive Visa and Mastercard card payments directly on their smartphone with no extra hardware. Priced at 0.99% per transaction with no subscription or setup fees.
• Mobilt Kassesystem (Mobile Point-of-Sale) Mobile point-of-sale system that turns a merchant's smartphone into a payment terminal capable of accepting MobilePay payments, card payments, and cash. Targeted at small businesses needing flexible on-the-go payment acceptance.

Quantifiable outcome

• 98% of fraud stopped by AI system Olga in Norway
• +4 more outcomes

Named customers4 records

Segments3 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration2 records

AI capability2 records

Feature5 records

Partnerships

Eleven partnerships are on record, tiered core, minor and major.

• KustomcoreChannel Partner/ Reseller/ Distributor · 26 March 2026Vipps MobilePay sold its Checkout solution to Swedish company Kustom and entered a distribution partnership. Kustom becomes the recommended checkout partner for e-commerce, while Vipps MobilePay gains broader distribution. Deal valued at approximately 500 million NOK covering ~3,000 online stores and 7 billion NOK transaction volume.
• GrønlandsBANKENminorStrategic or Co-development Partner · 9 March 2026GrønlandsBANKEN partnered with MobilePay to translate the app into Greenlandic language, making it the seventh language available in MobilePay.
• European Payments Initiative (EPI) / WeromajorStrategic or Co-development Partner · 3 February 2026Vipps MobilePay joined the European payment initiative alongside Bancomat (Italy), Bizum (Spain), SIBS-MB WAY (Portugal), and EPI Company. Goal is to create a pan-European payment system connecting local solutions for cross-border P2P and business payments. Covers 13 countries with ~130 million users, representing 72% of EU and Norway population.
• Bancomat (Italy)majorStrategic or Co-development Partner · 3 February 2026Italian payment solution partner in the European Payments Initiative MoU, working toward cross-border European payments.
• Bizum (Spain)majorStrategic or Co-development Partner · 3 February 2026Spanish payment solution partner in the European Payments Initiative MoU, working toward cross-border European payments.
• SIBS-MB WAY (Portugal)majorStrategic or Co-development Partner · 3 February 2026Portuguese payment solution partner in the European Payments Initiative. Successfully tested cross-border payment from Vipps MobilePay to MB WAY in autumn 2025.
• Danske BankcoreStrategic or Co-development Partner · 1 November 2025Danske Bank partnered with MobilePay and Mastercard to launch tap-to-pay contactless mobile payments in Denmark and Finland. Bank support enables users to activate and use the tapping feature.
• MastercardcoreTechnology or Integration · 1 November 2025Mastercard partnered with MobilePay and Danske Bank to enable contactless tap payments, allowing MobilePay to work at any Mastercard contactless terminal.
• EuroPA CollaborationcoreStrategic or Co-development Partner · 1 January 2025EuroPA is a collaboration of European wallets enabling cross-border payments. Vipps MobilePay has been active since 2025, developing capabilities to send money from the Nordics to Southern Europe.
• EMPSA (European Mobile Payment Association)coreStrategic or Co-development Partner · 1 January 2025EMPSA is the organization foundational to the EuroPA and new European payment initiative. Vipps MobilePay builds on EMPSA infrastructure for cross-border payments.
• Vipps (Norway)coreStrategic or Co-development Partner · 1 January 2022Merger creating combined Nordic payment platform. Denmark's MobilePay merged with Norway's Vipps and Finland's MobilePay, creating a unified platform serving approximately 12.5 million users across the Nordics. Vipps MobilePay AS is the parent company.

Scale indicators11 records

Recent moves9 records

Expansion highlights6 records

Direct peers

• Swish: Sweden's dominant P2P mobile payment app built by major Swedish banks. Closely comparable to MobilePay as a Nordic, bank-backed P2P/merchant wallet serving a single national market with high adoption — directly competitive inside Sweden where MobilePay is now expanding.
• Vipps: Norway's flagship mobile payment app and the merger counterpart to MobilePay within Vipps MobilePay AS. Operates the same P2P, contactless, and merchant payment model in Norway that MobilePay runs in Denmark/Finland, making them functionally direct peers within the unified parent group.
• Apple Pay: Global NFC/tap-to-pay mobile wallet available on iOS devices in Denmark and across the Nordics. Directly competes with MobilePay's newly-launched Tap with MobilePay feature for in-store contactless acceptance at any payment terminal.
• Google Wallet (Google Pay): Android-native mobile wallet and tap-to-pay service widely available in Denmark/Nordics. Competes with MobilePay for both P2P and in-store contactless share, especially on Android devices where MobilePay is heavily distributed.
• Bizum: Spain's leading bank-backed P2P mobile payment platform. Direct functional peer to MobilePay and now an EPI/EuroPA collaboration partner, with a comparable national-scale consumer wallet model that makes it the most relevant international benchmarking point.

Broad incumbents

• PayPal: Global digital wallet and online payments incumbent broadly active in Nordic e-commerce. Competes with MobilePay Online at 31,000+ Danish webshops and represents a broader-portfolio incumbent threat as it expands P2P and in-store capabilities.
• Wero (EPI): Pan-European digital wallet from the European Payments Initiative covering Benelux/France/Germany and ~13 countries. Co-member of EPI alongside Vipps MobilePay and directly targets the same cross-border European P2P and merchant payment use cases MobilePay is now pursuing.

Emerging players

• Revolut: London-headquartered digital banking and multi-currency wallet app gaining significant Nordic user share. Comparable as a feature-rich mobile-first wallet with P2P, contactless, and merchant payment capabilities targeting similar consumers/sMBs.
• Klarna: Swedish-founded fintech offering payments, shopping, and now a wallet/pay-by-bank product across the Nordics. Competes with MobilePay at the checkout layer and in consumer mindshare within the same Nordic demographic.

Regional players

• iDEAL: Netherlands' dominant online bank-payment method operated by the Dutch payments ecosystem. Comparable as a regional, bank-orchestrated payment scheme that owns a national e-commerce checkout layer analogous to MobilePay Online in Denmark.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks7 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/mobilepaydanmark
• LinkedInlinkedin.com/company/mobilepay-nordics
• Instagraminstagram.com/mobilepay_dk
• Xx.com/mobilepaydk

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 records

Subsidiaries2 records

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 MobilePay