BankAxept
- Company typePrivate
- Founded2014
- HeadquartersOslo, Norway
- Headcount11–50
- GTM typeB2B
- OfferingServices
BankAxept firmographics
Firmographics- Name
- BankAxept
- Legal name
- Stø AS
- Website
- https://bankaxept.no
- Company type
- Private
- Founded year
- 2014
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Ownership category
- akta.pro rank
BankAxept industry classification
Industry- Product category
- Payment Card Network
- NAICS
- Financial Transactions Processing, Reserve, and Clearinghouse Activities (52232), Financial Transactions Processing, Reserve, and Clearinghouse Activities (522320)
- SIC
- Finance Services (6199)
- akta.pro primary industry
- ATM / Cash Access Network Schemes (FSAMAAAH)
Keywords
Where BankAxept is headquartered
LocationHeadquarters
- HQ city
- Oslo
- HQ country
- Norway
- HQ region
- Europe
Offices1 record
Markets served
BankAxept business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Technology or R&D, Operations, Personnel, Infrastructure, Marketing or Sales
Revenue model
- Transaction fee (Omsetningspris): BankAxept charges merchants a percentage-based transaction fee on the turnover volume of each BankAxept payment. This is the primary revenue stream. The fee decreases at volume thresholds (tiered discount model). In addition, a per-transaction fee applies at the highest tier. The maximum price per transaction is capped at NOK 15.
- Merchant subscription (Brukerstedsabonnement): Merchants pay a monthly subscription of NOK 150 per BAX-number per month. This subscription is only charged in months where transactions have been conducted on that BAX-number. No setup fee is charged.
- Digital payment fee (Pris for digital betaling): A separate fee line item for digital/NFC mobile payments in terminal, included in the tier pricing.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Transaction based/ take rate | Monthly | Level 1: 0.151% of turnover volume |
| Transaction based/ take rate | Monthly | Level 2: 0.121% of turnover volume |
| Transaction based/ take rate | Monthly | Level 3: 0.091% of turnover volume |
| Transaction based/ take rate | Monthly | Level 4: 0.081% of turnover volume |
| Transaction based/ take rate | Monthly | Level 5: 0.0475% + NOK 0.03 per transaction |
| Subscription | Monthly | Monthly subscription: NOK 150 per BAX-number |
| Transaction based/ take rate | Monthly | Via terminal supplier: 0.5% of turnover with no subscription |
| Transaction based/ take rate | Monthly | 2026 prices: Level 1 at 0.161% |
Go-to-market motion2 records
Distribution channels4 records
Marketing channels6 records
BankAxept product offering
Product offeringCore offering
BankAxept operates Norway's national debit-card payment network, processing chip, contactless NFC, and mobile-wallet card payments at point-of-sale terminals across more than 90,000 Norwegian stores. The platform is complemented by offline backup solutions (including an extended 7-day version for essential-goods merchants), direct-to-card refunds, pre-authorization for fuel/EV/parking, in-store cash deposit and withdrawal, and digital tokenization of cards in Apple Pay, Vipps, CoopPay, and Trumf Pay.
Product overview
BankAxept is Norway's national payment card network offered as a platform of interconnected payment services. The core offering is the BankAxept card payment service (Betaling), which processes contactless, chip, and PIN-based transactions at point-of-sale terminals with daily settlement. This core is complemented by a set of add-on modules: Reserveløsning (Backup Solution) for offline payments, Utvidet reserveløsning (Extended Backup Solution) for up to 7 days offline, Vareretur (Return of Goods) for direct refunds, Kontanttjenester i butikk (Cash Services) for cash deposits and withdrawals, and Forhåndsreservasjon (Pre-authorization) for fuel/charging/parking. Merchants access the platform through the Min Side (Merchant Portal) for reporting and management. The eBetaling sub-product extends BankAxept into digital wallets and retailer apps (Apple Pay, Vipps, Coopay, Trumf Pay) via token-based authentication. The offering is delivered by Stø AS and is available exclusively within Norway.
Differentiator
Problem solved
Functional benefit
Products and services
- BankAxept Card Payments (Betaling) Core card payment service enabling merchants in Norway to accept BankAxept card transactions via chip, PIN, and contactless NFC tap-to-pay at point-of-sale terminals, with next-day settlement of funds to the merchant's bank account. Used by over 90,000 acceptance points across Norway and processes 8 out of 10 in-store card transactions in Norway.
- Reserveløsning (Backup Solution) Offline fallback payment capability that allows merchants to continue accepting BankAxept payments when internet connectivity or the central payment system is down, using PIN or signature-based authorization at the terminal. Transactions above NOK 2,500 require manual authorization via a dedicated phone line. Used by Norwegian merchants to maintain payment acceptance during outages.
- Utvidet reserveløsning (Extended Backup Solution) Extended offline payment service for approved merchants — primarily necessity-goods retailers such as grocery, fuel, and pharmacy chains with national or regional scale and integrated POS. Provides up to 7 days / 168 hours of continuous offline payment acceptance with settlement guarantee. Merchants must apply separately to Bits AS for approval.
- Vareretur (Return of Goods / Refund) Refund service enabling merchants to process customer refunds directly to the original BankAxept card through the payment terminal. The refund amount is returned to the account linked to the card, with each transaction traceable to the individual cardholder, giving merchants better control over returns.
- Kontanttjenester i butikk (Cash Services in Store) Cash handling service allowing private and business customers to deposit up to NOK 20,000 and withdraw up to NOK 10,000 in cash using the payment terminal at participating stores (up to 25 coins per denomination per transaction). Provides an alternative cash access point as ATMs disappear across Norway.
- Forhåndsreservasjon (Pre-authorization) Pre-authorization service for transactions where the final amount is not yet known at the time of payment initiation, such as fuel dispensing, EV charging, and parking. The merchant/operator determines the reservation amount, which is released seconds after fueling or charging completes.
- BankAxept eBetaling (ePayment) Digital payment service that places a tokenized version of the physical BankAxept card into approved digital wallets (Apple Pay, Vipps, Trumf Pay, CoopPay) and retailer apps, enabling tap-to-pay with mobile phones, smartwatches, and in-app payments at any BankAxept-accepting terminal. Used by Norwegian consumers and by retailer apps such as NorgesGruppen, Coop, and REMA 1000.
- Min Side (Merchant Portal) Self-service merchant portal giving BankAxept merchants access to transaction history, settlement reports, downloadable Excel/CSV reports, invoice management, and agreement management. Contains transaction data from 2022 onwards. Used by BankAxept merchants to manage their payment relationship.
Quantifiable outcome
- Norwegian society saves over NOK 2 billion annually using BankAxept vs. international debit cards (Norges Bank analysis). Cost per transaction: NOK 3.30 for BankAxept vs. NOK 4.70 for Visa debit or over NOK 10 for international credit cards.
- +2 more outcomes
Companies that use BankAxept
Customer profileNamed customers7 records
Segments6 records
Ideal customer profiles5 records
BankAxept technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration10 records
Feature7 records
BankAxept partnerships and signals
Strategic signalPartnerships
36 partnerships are on record, tiered core and minor.
- Sparebanken NorgecoreSparebanken Norge (with ~800,000 customers) began offering BankAxept in Apple Pay in June 2026. With Sparebanken Norge, over 80% of BankAxept cards are available for digital payments.
- DNBcoreDNB was among the first major banks to launch BankAxept in Apple Pay (December 2024). DNB is one of the largest shareholders in Stø AS (parent company of BankAxept).
- Trumf PaycoreBankAxept launched in Trumf Pay, allowing users to pay with their BankAxept card through the Trumf app at NorgesGruppen stores (KIWI, MENY, Joker, Spar, Jacob's, Nærbutikken, CC Mat) and earn bonus rewards.
- SpareBank 1coreSpareBank 1 alliance launched BankAxept in Apple Pay in June 2024/2025, enabling all SpareBank 1 bank customers to pay with BankAxept via Apple Pay. SpareBank 1 Betaling is a major shareholder in Stø AS.
- NetscoreNets is one of the primary terminal suppliers offering payment terminals configured for BankAxept. They are listed prominently among the ~22 terminal supplier partners on the BankAxept partner page.
- VerifonecoreVerifone is a terminal supplier partner providing payment terminals that support BankAxept. Listed as a partner on bankaxept.no.
- Aera Payment & IdentificationcoreAera provides complete payment solutions for in-store, online, and mobile wallets. They developed the BankAxept eBetaling platform enabling BankAxept in the apps of NorgesGruppen, Coop, and REMA 1000, and are the first approved ID and wallet provider for BankAxept digital cards.
- SoftpaycoreSoftpay enables BankAxept payments from mobile phones and tablets via their SoftPOS/Tap-to-Phone solution. They were the first provider approved for BankAxept mobile payment from consumer devices, partnering with Bits AS and BankAxept in a pilot.
- Logos Payment SolutionscoreLogos integrated BankAxept into their All-in-One self-service payment platform, enabling unattended payments at EV chargers, vending machines, car washes, and parking across Norway.
- Mabu ASminorMabu delivers cost-effective POS systems, payment terminals, and payment solutions with focus on reliability, flexibility, and good customer experience. Listed as a BankAxept partner.
- AGI SynergiesminorProvides payment solutions for restaurant and retail with focus on speed, stability, and modern design. Listed as a BankAxept partner.
- Front SystemsminorProvides a modern, cloud-based POS platform for fashion and sports retail, integrating BankAxept for optimal local payment solutions.
- Swedbank PayminorProvides payment terminals, card acquiring, and eCom/app payment platform covering major Nordic payment solutions. Listed as a BankAxept partner.
- VippscoreBankAxept is now available for tap-to-pay in Vipps, enabling users to pay with their digital BankAxept card via NFC at any terminal accepting BankAxept. BankAxept is embedded as a token in the Vipps app.
- Coop NorgecoreCoop (over 1 million Coopay users) implemented BankAxept eBetaling in the CoopPay app, enabling customers to pay with their BankAxept card through the app. Coop represents one of Norway's largest grocery retailers.
- NorgesGruppencoreNorgesGruppen (chains: Meny, Spar, Joker, KIWI) partnered with BankAxept to implement eBetaling in their customer apps. Will enable BankAxept payments through the Trumf loyalty program.
- REMA 1000coreREMA 1000 partnered with BankAxept to implement eBetaling in their customer apps, leveraging BankAxept's low costs to maintain their low-price strategy.
- Uno-X Mobility / ReitancoreUno-X Mobility was the first to offer BankAxept tap-to-pay at EV charging stations in Norway, in partnership with Reitan. Enables multiple payment options including the cheaper BankAxept at charging locations.
- Bits AScoreBits AS maintains the approved list of merchants for the Extended Backup Solution (Utvidet reserveløsning). Merchants wishing to use the extended 7-day backup solution must send a separate application to Bits AS.
- ApplecoreBankAxept digital cards are available in Apple Pay, enabling iPhone and Apple Watch users to tap-to-pay with BankAxept at any accepting terminal. Launched with multiple Norwegian banks starting May 2024.
- Eika BankenecoreAll Eika banks offer BankAxept in Apple Pay. Eika VBB is a shareholder in Stø AS. Eika banks are also available in BankAxept digital payments via Vipps.
- Stø AS (operator)coreStø AS is the company that operates and manages BankAxept products and services. Formerly BankID BankAxept AS, renamed to Stø AS in May 2025. Stø AS is 100% owned by Vipps Holding AS and is also responsible for BankID.
- Butikkservice ASminorDelivers POS systems, payment solutions, and online stores. Listed as a BankAxept partner.
- CaspecominorProvides POS systems handling everything from ordering to payment. Listed as a BankAxept partner.
- CoreGominorProvides payment solutions, networking, and access systems for festivals and arenas. Listed as a BankAxept partner.
- Nordia Payment ServicesminorProvides payment terminal services with year-round support. Listed as a BankAxept partner.
- PloreaminorFull POS system provider with 2,000+ customers in the Nordics. Listed as a BankAxept partner.
- BetalaminorNorwegian-developed mobile payment solution with both POS and payment terminal in one device. Listed as a BankAxept partner.
- Spok ASminorPOS and payment terminal total provider serving businesses in Møre og Romsdal. Listed as a BankAxept partner.
- Stella ITminorProvides secure, user-friendly payment solutions. Listed as a BankAxept partner.
- Vitec FixitminorProvides digital solutions for salons and clinics covering operations, payment, and growth. Listed as a BankAxept partner.
- Frontline POSminorProvides user-friendly POS systems and payment solutions for hospitality, retail, and cultural venues. Listed as a BankAxept partner.
- Finn Clausen POS SystemerminorProvides complete POS and online sales solutions. Listed as a BankAxept partner.
- Kasse og butikkdata (KBD)minorDelivers complete POS systems and payment solutions from simple cash registers to advanced retail data systems. Listed as a BankAxept partner.
- Kontroll ElektrominorProvides payment terminal solutions tailored to each merchant's needs. Listed as a BankAxept partner.
- PaytecminorProvides payment solutions, online stores, and surveillance for small shops, large chains, and clinics. Listed as a BankAxept partner.
Scale indicators11 records
Recent moves11 records
Expansion highlights6 records
BankAxept competitors and assessment
Company assessmentDirect peers
- Bancontact: Belgium's national debit card payment scheme, the closest functional equivalent to BankAxept in another European market. Both are bank-owned national debit networks optimized for domestic in-store payments with lower costs than international schemes.
- Cartes Bancaires: France's national interbank card payment scheme. Like BankAxept, it is owned by French banks and processes the majority of in-country card transactions with domestically-tailored features and pricing that competes with Visa and Mastercard.
- girocard: Germany's national debit card system operated by Deutsche Kreditwirtschaft. Operates as a domestic alternative to international networks with bank-issuer model, paralleling BankAxept's role in Norwegian in-store payments.
- Nets: Nordic-based payment processor and acquirer (now part of Nexi). One of BankAxept's largest terminal supplier partners and the dominant card acquirer in the Nordics, with overlapping merchant base and complementary product portfolio.
Broad incumbents
- Visa: Global card network operating in Norway alongside BankAxept. Competes for share on combined cards and cross-border payments; BankAxept's pricing is benchmarked directly against Visa's interchange and assessment fees in the Norwegian market.
- Mastercard: Global card network competing with BankAxept in Norway, particularly for credit and cross-border use cases. Provides the alternative scheme on combined cards and serves as BankAxept's primary benchmark for international-acceptance value.
- Worldline: European payment processor and merchant acquirer. Competes with BankAxept's acquiring ecosystem in the Nordics through terminal supply, processing services, and merchant acquiring for international schemes.
Others
- Vipps: Norway's dominant mobile payment app and sibling entity under Vipps Holding AS (parent of Stø AS, which operates BankAxept). Vipps is both a BankAxept distribution channel (BankAxept tap-to-pay in Vipps) and a potential competitive substitute for mobile-first payments.
Regional players
- MobilePay: Mobile payment platform owned by Danske Bank, dominant in Denmark and expanding in Finland and Norway. Competitor and complement to BankAxept in Norwegian mobile-payment use cases, particularly P2P and small-merchant payments.
- Swish: Swedish mobile P2P and merchant payment platform operated by Sweden's major banks. Regional peer comparable to Vipps in structure and bank ownership, representing the Swedish equivalent of Norway's bank-owned mobile-payment infrastructure.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat6 records
Key risks7 records
Key highlights7 records
Customer concentration
BankAxept social profiles
Digital presenceBankAxept financial estimates
Financial estimateRevenue estimate
Valuation estimate
BankAxept leadership team
Management profileNumber of profiles
Profiles13 records
BankAxept funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
BankAxept M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about BankAxept
What does BankAxept do?
BankAxept operates Norway's national debit-card payment network, processing chip, contactless NFC, and mobile-wallet card payments at point-of-sale terminals across more than 90,000 Norwegian stores. The platform is complemented by offline backup solutions (including an extended 7-day version for essential-goods merchants), direct-to-card refunds, pre-authorization for fuel/EV/parking, in-store cash deposit and withdrawal, and digital tokenization of cards in Apple Pay, Vipps, CoopPay, and Trumf Pay.
Is BankAxept a public or private company?
BankAxept is a private company. It is classified as corporate owned and is currently operating.
When was BankAxept founded?
BankAxept was founded in 2014. It employs 11 to 50 people.
Where is BankAxept based?
BankAxept is headquartered in Oslo, Norway, in the Europe region.
How does BankAxept make money?
Three revenue lines are on record. Transaction fee (Omsetningspris) is the primary driver. The others are merchant subscription (Brukerstedsabonnement) and digital payment fee (Pris for digital betaling).
Who are BankAxept's main competitors?
Direct peers on record are Bancontact, Cartes Bancaires, girocard and Nets. Broad incumbents are Visa, Mastercard and Worldline. Vipps is listed as an others. Regional players are MobilePay and Swish.
Does BankAxept have an API?
No public API is recorded for BankAxept.
What industry is BankAxept in?
BankAxept's product category is Payment Card Network. Its primary akta.pro industry code is FSAMAAAH, ATM / Cash Access Network Schemes. Its NAICS code is 52232 and its SIC code is 6199.