Vipps MobilePay Just Plugged Greenland Into The Nordic Payments Network
Hey Payments Fanatic!
Guess who annexed Greenland first? 👀 🇬🇱
Relax. Only in the world of Payments.
Lately, a lot of people seem very interested in the island. Some talk about its strategic location. Others mention Arctic routes, rare earth minerals, or why a giant landmass covered in ice suddenly looks very attractive on the global map.
But while some people are busy thinking about owning Greenland… Payments infrastructure just integrated it.
Vipps MobilePay has now connected Greenland to the Nordic payments network, allowing users across the region to send money directly to Greenlandic phone numbers for the first time.
Until now, payments had to route through Danish numbers. If someone in Norway, Sweden, or Finland wanted to send money to Greenland, the flow technically passed through Denmark first.
Now that extra step disappears. It might sound like a small product update, but it quietly connects around 12.5 million Vipps and MobilePay users across the Nordics to Greenland’s local payment ecosystem.
For the roughly 27,000 MobilePay users on the island, it means receiving money becomes as simple as it is anywhere else in the region.
Politics can debate Greenland’s strategic importance for years.
But beneath all the noise, it’s often Payments infrastructure that ends up turning ideas into reality.
Curious what else is shifting across Payments industry? Scroll down 👇 I'll be back tomorrow with more news from the sector.
Cheers,
INSIGHTS
📰 Stablecoin Regulatory Frameworks.
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🇩🇰 Vipps takes over Greenland. Users of Vipps and MobilePay can now send money directly to Greenlandic phone numbers. At the same time, Greenlandic is being launched as a new app language. Continue reading
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GOLDEN NUGGET
Paying with Cards 🆚 Digital Wallets
Very different payment flows...
The visual above 👆 shows the difference between card payments (open loop) and digital wallets (closed loop).
💳 𝗖𝗮𝗿𝗱𝘀 (𝗢𝗽𝗲𝗻 𝗟𝗼𝗼𝗽)
When you pay with a Visa or Mastercard, the transaction passes through several players:
• Customer → Merchant
• Merchant → Acquirer
• Acquirer → Card Network
• Card Network → Issuer (customer’s bank)
• Approval travels back the same route
• Merchant gets settled (minus fees)
➡️ Multiple intermediaries
➡️ More complexity and fees
📱 𝗗𝗶𝗴𝗶𝘁𝗮𝗹 𝗪𝗮𝗹𝗹𝗲𝘁𝘀 (𝗖𝗹𝗼𝘀𝗲𝗱 𝗟𝗼𝗼𝗽)
Wallet ecosystems keep most of the transaction inside their own network:
• User authenticates in the wallet
• Funds loaded from bank
• Wallet transfers funds internally
• Bank settlement happens in the background
➡️ Fewer visible intermediaries
➡️ Often faster and cheaper
As wallets grow globally, understanding what happens under the hood of payments becomes increasingly important.
Source: Nikhil Kassetty
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