Nordea to start using Danske Bank’s mobile payment app

Swipp app to be replaced by more popular MobilePay service

Lucie Rychla

Nordea Bank has decided to drop its own mobile payment system Swipp in favour of co-operating with its major competitor Danske Bank, which provides a more popular electronic payment app, MobilePay.

For now, Nordea’s customers in Denmark and Norway can continue using Swipp, but soon they will be offered the chance to transfer to MobilePay.

Private customers will get the service for free.

Nordea has also pledged to invest in the app’s future development.

“MobilePay is known today for its user friendliness, and we want to contribute to making the solution even more widely used and to continuing the development of MobilePay as an innovative digital payment platform,” stated Peter Lybecker, the CEO of Nordea’s Danish unit.

READ MORE: MobilePay breaking new records

Nets’ shares plummeting
The partnership is part of Danske Bank’s larger plan to open up MobilePay to all Nordic banks in a bid to stay competitive in the constantly-developing market with electronic payment systems.

According to Bloomberg, MobilePay is the third-most used app in Denmark. Danske Bank expects it will reach 180 million transactions in 2016 – a volume of 40 billion kroner.

Nordea’s decision to drop Swipp has negatively impacted on the Nordic payment systems provider Nets, whose shares have plummeted today by 5.6 percent – primarily because the provider collaborates with Swipp.

TOP STORIES

  • Danish Intelligence Service: Threat from Russia has intensified

    Danish Intelligence Service: Threat from Russia has intensified

    In the internal Danish waters, Russia will be able to attack underwater infrastructure from all types of vessels. The target could be cables with data, electricity and gas, assesses the Danish Defense Intelligence Service

  • Denmark to explore screening citizenship applicants for anti-democratic sentiments

    Denmark to explore screening citizenship applicants for anti-democratic sentiments

    A few weeks after Alex Vanopslagh’s comments about “right values,” the government announced that an expert committee would be established to examine the feasibility of screening citizenship applicants for anti-democratic attitudes.

  • The Future Copenhagen

    The Future Copenhagen

    The municipality plan encompasses building 40,000 houses by 2036 in order to help drive real estate prices down. But this is not the only huge project that will change the shape of the city: Lynetteholmen, M5 metro line, the Eastern Ring Road, and Jernbanebyen will transform Copenhagen into something different from what we know today

  • It’s not you: winter depression is affecting many people

    It’s not you: winter depression is affecting many people

    Many people in Denmark are facing hard times marked by sadness, anxiety, and apathy. It’s called winter depression, and it’s a widespread phenomenon during the cold months in Nordic countries.

  • Crime rates are rising, but people are safer

    Crime rates are rising, but people are safer

    Crime in Denmark is increasing for the second consecutive year, but it is more focused on property, while people appear to be safer than before. Over the past year, there were fewer incidents of violence

  • Novo Nordisk invests 8.5 billion DKK in new Odense facility

    Novo Nordisk invests 8.5 billion DKK in new Odense facility

    Despite Novo’s announcement that its growth abroad will be larger than in Denmark, the company announced this morning an 8.5 billion DKK investment for a new facility in Odense. This is the first time the company has established a new production site in Denmark this century.

Connect club

Connect Club is your gateway to a vibrant programme of events and an international community in Denmark.

Sign up here

Career

Want to advertise your job with CPH Post?

Contact us

Jobs