Danish operators sell m-pay business to rival Swipp

Danish operators sell m-pay business to rival

26 NOV 2014

Operators behind Danish mobile payment venture Paii have decided to sell the service to Swipp, the country’s second most popular mobile payments service, which is owned by a consortium of Danish banks.

Paii’s chairman Flemming Jenson explained the decision, saying that the operators – TDC, Telenor, Telia and 3 – have “come to the conclusion that payments are not telecommunications companies’ core business in the same way as it is for the banks”.

Swipp plans to launch a new app in 2015 which will merge the best technology from both services and offer online, offline and P2P payments.

Martin Andersen, managing director of Swipp – owned by leading Nordic banks Nordea, the country’s Association of Regional Banks, as well as its Association of Local Banks and Nykredit – said that “by combining our knowledge, experience and skills from both banks and telecommunications companies, we get a unique position to expand mobile payments in Denmark. Traders have access to a larger customer base and the consumer gets far more opportunities to pay by phone.”

“The combination with Paii makes it much faster to develop a customised and user-friendly mobile payment solution that can be integrated directly into the cash registers in retail chains,” he added.

The leader in the Danish m-payment market is Danske Bank’s MobilePay, with Swipp at number two and Paii coming in third.

Swipp’s next move is similarly aggressive — it wants to acquire MobilePay in the next two years, according to local business paper Børsen Finans.


Saleha Riaz

Saleha joined Mobile World Live in October 2014 as a reporter and works across all e-newsletters - creating content, writing blogs and reports as well as conducting feature interviews...More

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