Vipps MobilePay has announced its expansion in Sweden, aiming to provide customers in the region with the possibility to send money to each other quickly and securely. Following this announcement, customers from Sweden that have the Vipps application will be enabled to receive and send money to Nordic friends, acquaintances, and family in a secure and simple manner.

The company’s app and services have been available for clients in Denmark, Norway, and Finland since June. In addition, Vipps will continue to focus on meeting the needs, preferences, and demands of users and customers in an ever-evolving market, while prioritising the process of remaining compliant with the regulatory requirements and laws of the local industries as well. More information on the Vipps MobilePay expansion in Sweden According to the official press release, cross-border payments between Norway, Denmark, and Finland have been a success, and the company expects a significant increase in the number of cross-border transactions now that Sweden joined in.

At the same time, alongside to cross-border payments within the Nordic countries, clients will also have the possibility to use other functionalities that are in the application. The Vipps MobilePay will also allow access to the shared expenses feature, which can be leveraged between Swedes and across borders. Currently, the application can be used between individuals only, but soon both MobilePay and Vipps will be available to be leveraged in order to make payments in other countries’ stores that already accept transactions with one of the two solutions.

Until the 1st of November, the process for sending money across borders will be reduced to 2% from 4%, while it will cost nothing to receive the funds. Customers will be required to put in a card for sending money, while a recipient card must be added to receive them as well. Furthermore, clients over the age of 15 who have a debit or credit card can send money to the neighbouring countries, but an individual’s bank will need to support the Vipps or MobilePay service in order for them to receive the funds.

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