Thursday, March 14, 2019
Norwegian mobile payments app Vipps is to add new electronic invoicing options to its P2P platform via a partnership with payments processor Nets.
The agreement will make Nets' popular e-invoving tool eKaktura available across the Vipps platform. More than 3.2 million Norwegians currently use Vipps and around 2.6 million use eFaktura, which distributes approximately 100 million invoices each year.
Frode Åsheim, Norway country director, Nets, says: “Almost 180 million invoices are being delivered on paper or PDF in Norway every year. Consequently, many consumers forget to pay on time, creating cash flow issues for creditors. By combining the functionality of Vipps and eFaktura we are reaching more consumers, particularly young people.”
The partnership will enable consumers to pay all digital invoices and bills in Vipps or through online and mobile banking, including those previously only available in the Vipps app. Crucially back-end integration for banks, corporates and suppliers will remain unchanged, obviating the need for systems updates to take advantage of the new facility.
Rune Garborg, CEO of Vipps, comments: “We believe that this agreement will contribute to digitising all paper and email-based invoices in Norway. In the longer term, our ambition is to make the physical invoice obsolete. This partnership will create cost-savings for both corporates and consumers.”