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Mobile Payments

Vipps and Nets sign new agreement

Tuesday 5 September 2017 | 11:39 AM CET

Vipps and Nets have entered into a new agreement making "straksbetaling", the instant payment solution in Norway, available for P2P payments with the popular wallet.

As a result of this agreement, customers of all banks in the Vipps partnership will soon receive the money in their accounts immediately after it has been transferred.

Today, only customers of the Norwegian bank DNB have the opportunity to get the money right away when someone makes a transfer in the payment app Vipps. If the money is transferred to an account in another bank, it won't get there until the next settlement between the banks which might not take place until the next day.

Both Vipps and Nets have started the adjustments to their systems making instant payment available in the popular wallet. It is expected that the first banks involved in Vipps, will have made the necessary developments that will make real-time payment possible before year-end.

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