With two schemes in place and both P27/SCT Inst on the horizon, growth of 185% YOY and adoption across banks, merchants and billers, Norway is a fast-developing IP market.

Its first IP system, Straksbetalinger, was launched by a consortium of banks in Norway in 2013 to enable IP bank transfers in Norwegian krone between participating banks. The central bank is planning to launch an improved version of the system that will follow SCT Inst’s standards. The new system is scheduled to be launched during 2020 and will enable P2P, C2B and B2B transactions.

Mobile payments app Vipps — which DNB Bank launched in May 2015 — is also widely used for mobile IP in Norway. Vipps enables users to make P2P payments as well as online, instore and bill payments using a linked mobile number, though transfers can only be made between Vipps users. Users can fund their payments using their bank account or debit/credit card, but to receive a payment, users must link their bank account with Vipps.



  • Consumers
  • Banks
  • Merchants
  • Billers



Population banking level


Number of debit, credit and charge cards per adult


Index to global average


Fully banked

Key statistics


IP launch year

Immediate payments types

Single instance, future data payments

Initiation & authorization

Bank account, mobile number, QR code

ISO 20022

Message standard









% of adults who have a mobile wallet and have used it in the past year

Share of volumes by payments instrument



Spend (USD)

  • Paper-based payments
  • Electronic payments
  • Immediate payments

Immediate payments volume and its share in overall non-paper-based transactions, 2017-24f

% of total electronic payments transaction volume


In some ways, Norway might not seem like a country set for widespread IP adoption: its population is fully banked, adults have an average of 3.77 cards and paper-based transactions are limited. However, Norway also has an appetite for payment innovations — and IP already has several integrations across segments and in mobile wallets, which are popular with Norwegian adults.

This, along with future P27 participation and the delivery of a new IP scheme integrated into the pan-European SCT Inst network in 2020, will stimulate growth further — most of which will likely occur between 2018-2021.

ACI’s take

Norwegian corporates have typically made Sweden their primary target country to expand into, but the complexity of managing payments between these countries has always been cumbersome and costly.

As P27 takes shape, expect to see Norway place a focus on new B2B and B2C services via digital overlays that will complement Norway’s fully- banked and progressive consumers. P2P and P2C mobile commerce usage is already high, so banks should be thinking about how they are going to spin out additional customer benefit from the P27 initiative. It’s important not to lose sight of the end goal of P27, which aims beyond Pan-Nordic payments. As regional players solidify their new revenue streams, they must consider interoperability with other existing pan-regional schemes, growing into new, innovative markets and adopting successful digital overlay services from elsewhere.


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