Borenius advised the OP Financial Group on the combination of mobile wallets business

We advised the OP Financial Group on a transaction aiming to combine the mobile wallets of Pivo (OP Financial Group), MobilePay (owned by Danske Bank) and the Norwegian Vipps.

Their mobile wallets are currently used by 11 million customers, and the combination will create one of Europe’s leading mobile payment companies. The joint platform for Pivo, MobilePay and Vipps will provide customers with a wide range of mobile wallet services, including payments in online stores and at checkout terminals, and money transfers between users.

The merger will be subject to the approval of relevant competition authorities.