Vipps MobilePay Group Due Diligence

Run due diligence on Vipps MobilePay Group: check incident history and compliance and get alerts when suppliers change.

Norway · www.mobilepay.dk · 13 vendors

Vipps MobilePay AS is a leading Nordic mobile payment solution provider, formed in 2022 by the merger of Norway's Vipps and Denmark/Finland's MobilePay. The company offers easy, fast, and secure mobile payments for peer-to-peer transfers, in-store purchases, online shopping, and bill payments. It serves over 11 million users and more than 330,000 merchants across multiple Nordic countries.

Resilience scores

Disruption prediction

Vipps MobilePay Group has a 39% probability of disruption in the next three months, based on its recorded incident history.

No active incident reported (StatusGator, as of 2026-10-20 11:15 UTC)

7 of Vipps MobilePay Group's 13 vendors have incident tracking.

Technology vendors

Services catalogue

6 services in catalogue across 4 categories; runs on 13 sub-vendors.

Insights

Last updated 2026-10-11 · revision 1

13 direct vendors, 218 subvendors

Direct vendors by controlling owner country (sample)

Subvendors by controlling owner country (sample)

Migration Readiness: 9/10

Assessed by AI based on technology stack characteristics (cloud-native vs legacy, containerization, microservices), regulatory environment, data residency requirements, financial stability, and vendor lock-in risks. The score ranges from 0-10, where higher scores indicate better readiness for technology migration.

Vipps MobilePay Group exhibits exceptionally high migration readiness, primarily due to its highly modern, cloud-native, and containerized technology stack. The extensive use of Microsoft Azure, Kubernetes, Docker, and microservices architecture (implied by the tools and practices) positions them well for agile and efficient migrations. Their robust CI/CD pipelines, leveraging Terraform, GitHub Actions, and Azure DevOps, along with comprehensive monitoring tools like Grafana, Prometheus, and Datadog, indicate mature DevOps practices that streamline deployment and management, which are critical for successful migrations. The use of diverse programming languages (.NET/C#, Java, Kotlin, Swift, React Native) and modern databases like PostgreSQL further enhances flexibility. From a vendor perspective, the company benefits from a diverse base of 13 vendors across 4 countries, with an explicitly stated low vendor lock-in risk. This significantly reduces potential complexities and dependencies often associated with vendor-driven migration challenges. The assessment notes the absence of specific data residency requirements, which could introduce complexities if strict rules apply, though Azure's global presence often provides solutions. Similarly, detailed financial stability data that would confirm the ability to fund large-scale migrations is not available. However, the inherent flexibility and modularity of their current architecture suggest that technical hurdles for migration would be minimal, making them highly adaptable to future changes or platform shifts.

Compliance

12 in-scope frameworks identified; showing 3.

AML — Evidence found

As a financial institution operating in the EEA, Vipps MobilePay is legally obligated to comply with anti-money laundering and counter-terrorist financing regulations.

Evidence: https://thebanks.eu/emis/vipps-mobilepay-355372, https://clearingpost.com/insights/nordic-mobile-payments-swish-vipps-europa-regulatory-shift-2026/, https://leadiq.com/c/vipps-mobilepay/64523fd8be10691471dea116, https://www.sttinfo.fi/files/69821730/72035243/382370/fi

EMD2 — Evidence found

Vipps MobilePay is authorized by the Financial Supervisory Authority of Norway as an e-money institution and issues electronic money through its MobilePay balance service.

Evidence: https://thebanks.eu/emis/vipps-mobilepay-355372, https://help.vippsmobilepay.com/en-FI/articles/mobilepay-balance-issuer-and-regulation

ISO 27001 (source) — No public evidence

ISO 27001 is a globally recognized standard for information security management systems (ISMS). Certification would demonstrate a systematic approach to managing sensitive company and customer information.

Financials

Three-year financials

Financial Resilience Score: 7/10

Vipps MobilePay has demonstrated a strong financial turnaround over the past three years, narrowing its operating loss from NOK 996M in 2023 to just NOK 132M in 2025, and delivering its first-ever profitable quarter in Q4 2025. Revenue has grown consistently at 22-31% annually, driven by 30% transaction revenue growth and strong e-commerce expansion. The company maintains a solid equity base of NOK 2,660M against total liabilities of only NOK 747M, and has NOK 1,028M in undrawn credit facilities available, providing substantial liquidity cushion. However, the company remains loss-making on a full-year basis and reported negative operating cash flow of NOK 38M in 2025 with only NOK 389M in liquid assets. Equity has eroded by nearly NOK 400M over two years due to accumulated losses despite shareholder injections. The regulatory capital buffer of only NOK 21M above the NOK 114M requirement is thin for a regulated e-money institution. Strong backing from DNB, a consortium of Norwegian banks, and Danske Bank provides significant financial resilience, and management guidance points to full-year profitability in 2026.

Key strengths: Dominant Nordic market position with 12.4 million users and 1.438 billion transactions in 2025, Strong equity base of NOK 2,660M vs only NOK 747M liabilities, NOK 1,028M undrawn credit facilities providing liquidity cushion, Powerful bank-consortium ownership (Vipps Holding 72.22%, Danske Bank 27.78%), Dramatic turnaround: EBIT loss narrowed from NOK 996M (2023) to NOK 132M (2025), First-ever profitable quarter achieved in Q4 2025, Consistent revenue growth of 22-31% annually, Platform consolidation synergies and cost-saving initiatives delivering results

Risk factors: Still loss-making on full-year basis (NOK 135M pre-tax loss in 2025), Negative operating cash flow of NOK 38M in 2025, Equity erosion from accumulated losses (down from NOK 3,049M to NOK 2,660M), Thin regulatory capital buffer of only NOK 21M above requirement, Intensifying competition from Apple Pay and Google Pay in Nordics, High transaction costs in Finland market, Limited liquid assets of NOK 389M at year-end 2025

Workforce by country

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