Vipps, BankAxept and BankID are to merge in an effort to combat increasing global competition in the payments and digital ID space. The banks have signed a letter of intent to bring the three payment and identification systems into one company. Subject to agreement from the Norwegian competition authorities, the new company will be headquartered in Oslo and should be up and running by August … [Read more...]
Personal Finance in Norway
Understanding how money works in a new country is critical to a happy relocation. Here's our top tips on looking after your personal finances as an expat in Norway.
Nordea jump on board the Vipps train, while Danske Bank announces MobilePay will no longer be available in Norway. The Norwegian branch of Nordea Bank has entered into a cooperation agreement with mobile payments app Vipps for distribution to the bank's customers in Norway. Although Nordea Norway will distribute Vipps to its customers, it won't have an ownership stake in the new Vipps … [Read more...]
Use this service to save thousands on bank transfer fees between Norway and the USA. Maybe you are looking to move from the United States to Scandinavia for work and want to know if it's possible to send money back home on a regular basis? Or perhaps you're a long-time resident of Norway wishing to transfer some cash back to friends or family in the States? Whatever you reason for … [Read more...]
Norway's Central Bank has released an ocean-themed music video to spread the word about its new 200-krone banknote. The comedy ad features three well-known Norwegian comedians – Knut Lystad, Lars Mjøen and Jon Niklas Rønning – a rap from DJ Codfather and a cameo from central bank governor Øystein Olsen. A remake of a 1980s comedy song, the video was the brainchild of Norges Bank’s communication … [Read more...]
Norges Bank is in the early stages of looking at how an anonymous digital currency might work in Norway's financial system. According to a recent article on CoinBase, Norges Bank’s deputy governor spoke at an event at the Norwegian Academy of Science about the differences between money held in banks today and the proliferation of digital currencies. He set the research against the backdrop of a … [Read more...]