Nordic banks to build new payments infrastructure for instant cross-border payments

Banks are building a super-speed money highway in the Nordics — Bloomberg — “The P27 project — so-called for the 27 million people who live in Sweden, Norway, Denmark and Finland — will build on the success of smartphone payment applications that Nordic banks have already created, like Swish in Sweden, Norway’s Vipps, and MobilePay in Denmark… The aim is to make it possible to clear payments and settle accounts within seconds, regardless of currency.”


Handelsbanken pilots waterproof payments wristbands

Handelsbanken, BankAxept and Evry launch contactless payment from micro bank cards in wristbands — Evry — “This micro bank card makes paying for small purchases quicker and simpler than any other solution currently available to customers. You can, for example, have this small waterproof card in a wristband on the beach so you can buy an ice cream as soon as you get out of the water without having to first fetch your wallet or mobile. We therefore think many people will like this solution and will use it on a day-to-day basis.”


Apple Pay launches in Norway

Nordea launches Apple Pay in Norway, DNB stays focused on Vipps — Reuters — “Nordea Bank launched Apple Pay to its customers in Norway on Wednesday… Visa separately said Apple Pay will also be available to Norwegian customers at Santander Bank, and soon also at Sbanken. Norway’s biggest bank DNB said it had been in dialogue with Apple, but will so far not offer Apple Pay to its customers as it would rather concentrate on its self-made Vipps payment solution.”



Apple Pay to go live in Norway, Poland and Ukraine as transit ticketing drives consumer adoption

Apple financial results conference call Q2 2018 — Apple — “We believe the availability of Apple Pay at major transit systems have been a key driver of adoption among commuters… Apple Pay is already the most successful mobile transit payment system in Tokyo, which has the busiest transit system of all. With the launch of Brazil in April, Apple Pay is now available in 21 markets and we expect Norway, Poland and Ukraine to launch in the next several months.”


One in five Brits to make mobile payments in stores this year

UK: Mobile payments still looking to grab a foothold — eMarketer — “Just over 22% of UK smartphone users will use a phone to pay for goods and services at the point of sale (POS) in 2018… China has the largest mobile proximity payments market in the world, with 77.5% of smartphone users doing so this year. Within Europe, the UK’s smartphone penetration rate will rank behind Norway (23.3%), Sweden (33.8%) and Denmark (38.9%) in 2018.”


Norwegian banks to form joint venture in bid to combat threat of global tech giants

Norwegian banks to combine payment units Vipps, BankAxept, BankID — Reuters — “Norwegian banks agree to combine payment units Vipps, BankAxept and BankID Norge to improve product offering and prepare for competition against global tech firms… DNB CEO Rune Bjerke said: “We have two choices. Either let the existing payments infrastructure wither away, or join forces and push forward.”


Nordea and Danske to join Norway’s Vipps mobile payment system

Nordea joins rival DNB’s Vipps payment app in Norway — Reuters — “Top Nordic bank Nordea will start offering rival DNB’s mobile payment app to customers in Norway, leading Danske Bank to shut its service in the country, the companies said on Wednesday… Copenhagen-based Danske Bank said it would no longer offer the Mobilepay service to Norwegian customers, and that it would instead seek a distribution deal with DNB.”












Contactless payments across Europe set to rise nine-fold by 2020

RBR

The volume of contactless payments in Europe is forecast to rise almost nine-fold to 12.2bn in 2020 compared to 2014 and account for 13% of all card payments, according to research released by RBR. The number of contactless cards issued is also expected to treble from 2014 to just short of 700m by 2020 — representing more than 40% of the total regional card base. More



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