Vipps MobilePay, a service in Finland, has started using Tink’s Pay by Bank to facilitate peer-to-peer (P2P) transfers.

This feature enables users of the Finnish MobilePay app to connect multiple domestic bank accounts directly within the application. Consequently, payments can be made straight from these accounts without relying on cards or intermediaries.

According to company officials, account-to-account payments are set to become increasingly important in Vipps MobilePay’s operations, providing nearly three million users with an additional secure and efficient method for moving money.

Inclusion in online shopping

In addition to P2P transfers, the Pay by Bank service will also be offered as one of three payment options during checkouts on Vipps MobilePay’s e-commerce platform. This move integrates Tink’s technology into an online retail setting as a viable alternative to cards and other digital payment methods.

Vipps MobilePay, which emerged from the merger of Norway’s Vipps and Denmark’s MobilePay, now serves over 12 million users across the Nordic region. The service handles more than one billion transactions annually and is expanding its services internationally, having recently launched in Sweden.

Tink, acquired by Visa in 2022, offers open banking infrastructure in 19 markets with over 13,000 institutional connections. Its Pay by Bank product supports direct account-to-account payments and is being increasingly used by financial institutions and fintechs seeking card-based transaction alternatives.

The partnership between Vipps MobilePay and Tink illustrates how open banking technology can be scaled for everyday use cases.