Payment Card Year Books

Norway 2019/2020

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Payment Organisation

Nordic processor NETS absorbed BBS in 2010.
VBB AS absorbed Vipps, BankID and BankAxept.

Domestic Card Brand

BankAxept debit cards; mostly co-badged VISA or Electron.

BankAxess is the domestic online bank transfer service for payments of purchases in online shops.

Vipps, the mobile payments app of the Norwegian banks

Market Structure

Cards with a debit function are predominant. The domestic BankAxept debit card system accounted for 67.88% of card transactions in Norway and abroad in 2018; including all debit cards, the proportion is 88.67%.

Credit cards continued to grow in the past five years.
Card use, already among the highest in Europe, hit 472.3 payments per capita including cashbacks (320.6 on BankAxept debit cards) in 2018.

The Norwegian banks joined DNB to make the mobile payment app, Vipps, the ‘only mobile wallet’ for Norwegian customers.

In June 2018, the merger of Vipps, BankAxept and BankID Norway was completed and approved by Norway’s regulator.

Emerging Open Banking ecosystem.

Notable Market Trends

Mobile HCE NFC wallets, contactless BankAxept cards, Vipps, card-less payments, tokenisation security, biometric cards.

Statistical Key Figures for 2018 provided in this profile:

UPDATED: tables with card business data 2014-2018; growth rates: Y-o-Y, CAGR
Population, Cards per Capita, Card Value per Capita
Debit Cards, Credit/Delayed Debit Cards, Total Cards
Card payments by number and by value, ATV per card, payments per card/year
ATMs, POS terminals, ATMs/POS terminals per 1 million capita
ATM withdrawals by number/by value, ATV per withdrawal, TXs per ATM/month
POS payments by number/by value, ATV per POS payment, TXs per POS/month
Internet Use, e-payment mix, B2C e-Commerce by value and growth rate
Issued Card brands by individual major issuer bank
Accepted card brands by individual major acquirer
Drill down into the debit card use and credit cards use details

Product information

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1.1 last updated 13th January 2020