Market Share of Norway Payments Industry
The norway payments market is fragmented with the presence of major players like Vipps AS, Nets A/S, Bank Norwegian, Klarna Bank AB, and PayPal Holdings Inc. Players in the market are adopting strategies such as partnerships, mergers, innovations, and acquisitions to enhance their product offerings and gain sustainable competitive advantage.
In June 2023 - Nets Finland has announced to launch Npay - a pan-European payment terminal solution for merchants, Where The new terminal technology provides merchants with an easy and versatile solution for accepting payments in physical stores and facilitates payment acceptance through leading card schemes, such as Visa and Mastercard, and is prepared for use with local systems.
In October 2022, MobilePay, located in Denmark, announced that the EU Commission has authorized its merger with Vipps, based in Norway. The merger would develop a significant Nordic and European mobile wallet, as the new combined entity will have about 11 million users, 400,000 merchants, and 900 million transactions each year.
In April 2022, Klarna, a global retail bank, payments, and shopping service, announced the completion of its acquisition of PriceRunner, the comparison shopping service in the Nordic region with operations in Sweden, Denmark, Norway, and the United Kingdom. PriceRunner will bring new features to the Klarna app globally in the form of rich product discovery, price comparisons, and product reviews to help consumers save time and money and make informed decisions to take control of their finances.
In March 2022, Nets Group expands the framework agreement with DNB, one of Norway's largest banks, continuing the current collaboration. This comprises numerous important payment services, information technology, and other financial service delivery.
Norway Payments Market Leaders
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Vipps AS
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Nets A/S
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Bank Norwegian
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Klarna Bank AB
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PayPal Holdings Inc.
*Disclaimer: Major Players sorted in no particular order
