MobilePay now supports transfers to Swedes

MobilePay, a payment solution, has announced that users can now send money to individuals in Sweden, allowing seamless transactions among Denmark, Norway, Sweden, and Finland. Previously, this service was available in Finland and Norway since June, and Sweden now joins the group. A fee of 4% is charged on cross-border transactions, but with Sweden’s entry, the fee has been reduced to 2% until the end of October, excluding potential currency exchange fees from banks. A typical domestic MobilePay transaction in Denmark is of around 400 DKK. The cost of international bank transfers via Iban or Swift usually amounts to 50 DKK. While receiving money is free of charge, Vipps and MobilePay boast about 12 million users across the three countries. Anette Bøje from Vipps MobilePay described Sweden’s inclusion as a milestone and expressed ambitions for new features benefiting users across the four nations.