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Nordic Digital Wallets Merge to Stave Off Apple, Google Pay Apps

June 30, 2021, 8:08 AM

Norway’s Vipps, Denmark’s MobilePay and Finland’s Pivo are merging in an attempt to halt the encroachment of global payment services in the Nordic countries.

In a region where non-cash payments dwarf the use of notes and coins, the merger aims to hold back the advance of Apple Pay, Google Pay and Alipay. The group of Nordic banks behind the digital wallets are seeking to stake a claim on accumulating valuable client data from financial transactions and funneling transactions through their own systems in a race to establish the dominant network.

“Competition within payments is global, not local, and we need ...

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