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Danske Bank’s MobilePay digital wallet will merge with OP Financial Group’s Pivo in Finland and the Vipps mobile wallet offered by a Norwegian consortium of banks. The new organization will create a digital wallet serving 11m users and over 330k merchants.
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“MobilePay has been a fantastic success. However, it is very expensive to compete with global competitors in this space. To continue to develop the most attractive solutions for our customers, MobilePay must be part of something bigger to gain scale and pool investments for further innovation.”, said Glenn Söderholm, head of personal and business customers at Denmark’s Danske Bank.
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