vipps.se

Vipps is a mobile payment app that lets users send and request money from contacts in Sweden, Norway, Denmark and Finland. Users can also split shared expenses, send money as digital gifts and pay contactless at card terminals with a linked card. In Denmark and Finland the service is called MobilePay.

Private users and businesses are the customers: consumers send and receive payments, and shops and organisations in Norway accept Vipps. Revenue shown on the company's site comes from transfer fees. Transfers within Sweden are free, except that a 1% fee applies to amounts above 5,000 SEK sent to the same person within 24 hours. Transfers within the Nordics carry a 4% fee, and payments to Norwegian businesses are free for the payer.

Vipps reports more than 12 million users and 500,000 businesses. Cross-border transfers are sent in the recipient's currency: NOK to Norway, DKK to Denmark and EUR to Finland, with exchange rates from Norges Bank updated daily at 16:00. Recipients need a receiving card from a supported bank, and the listed banks include Nordea, SEB, Revolut, Klarna and Danske Bank.

Product: Vipps mobile payment app: peer-to-peer transfers, shared expense settlement, digital gift money and contactless card payments.