What is MobilePay

Please note that some of the information about MobilePay in this article was sourced from its official website on 29th April 2025. This information is subject to change.

MobilePay is a mobile payment application widely used in Denmark and Finland. It was developed by Danske Bank and first introduced in 2013.

The app allows users to make various payments using their smartphones, such as transferring money to friends, paying in-store and online, and making donations.

MobilePay Denmark has an impressive 4.5 million users, which equates to around 76% of the population–even Danes aged 90+ reportedly use the app–and over 2 million Finnish users. In 2022, MobilePay merged with Norway’s largest payment app Vipps to form Vipps MobilePay (though maintaining separate brand names in each country), enabling seamless cross-border transactions within the Nordics. 

How does MobilePay work?

The MobilePay app works as a digital wallet and is available for both iOS and Android devices. It links a user’s mobile number with their bank account or card and supports various transaction types, including transfers, contactless payments in physical shops and bill splitting among users.

To send a MobilePay transfer users input the recipient’s phone number or scan a QR code, then approve the payment in the app. Payments are typically authorised with a PIN code or biometrics. 

It’s a fast and convenient payment option, but only within MobilePay’s network and supported banks.

MobilePay for Business

MobilePay offers businesses a way to accept payments both online and at physical points of sale (POS). Merchants can integrate it via plugins or APIs, and use features like payment links and QR codes.

According to MobilePay’s website, it’s accepted in over 200,000 shops and webstores in Denmark.

What does MobilePay charge?

MobilePay charges 1.49% + 1Kr per transaction for any online payment plus monthly subscriptions starting at 195DKK. For physical payments, the MobilePay charge is 0.99% per transaction.

These prices increase to 2.49%-2.99% +1NOK/0.20EUR per online transaction for Norwegian and Finnish markets. In-person payments are 1.75%-2.25% per transaction.

There are no fees for private accounts, though in early 2025, MobilePay started to charge a fee for any transfers over €400 between private individuals. The fee doesn’t apply to payments made to companies or organisations.

By comparison, the big card networks’ fees, including Visa, Mastercard and Amex, typically range between 1.50% - 3.25% per transaction.

Transaction fees can quickly add up, especially for high-volume or lower-margin businesses, and MobilePay ‘s fee structure is fixed, with little-no flexibility. An open banking platform like Noda eliminates the middleman (such as issuing & acquiring banks, Visa, Mastercard and others), significantly reducing costs compared to standard card processing.

Here’s a quick look at Noda pricing compared to MobilePay:

Which countries support MobilePay?

MobilePay is only available in two countries: Denmark and Finland. While it had a presence in Norway, the service was discontinued back in 2018. However, the more recent merger with Vipps means Vipps MobilePay facilitates easy cross-border payments between Denmark, Norway, Sweden and Finland.

If you’re wondering is MobilePay international?–the answer is no, but it is a comprehensive digital wallet for the Nordic Market. For businesses operating beyond these borders, global open banking like Noda offers a more practical solution.

How to pay using MobilePay

MobilePay is a quick and easy checkout experience for customers, while also offering merchants a simple payment settlement. 

How to use MobilePay for online payments

• When purchasing from an online store, the customer enters the mobile phone number connected to the MobilePay application.
• The customer accepts the payment in the MobilePay application.
• The payment is charged to the card the customer linked to the MobilePay application.

The process is much the same for in-person payments, but payment initiation can vary depending on the business’s chosen checkout methods. Options include a ‘cash register’ app on phones or tablets, a shopping cart with fixed prices, or integration with current POS systems.

Pros and Cons of MobilePay

Pros:

• One Nordic Mobile Wallet: Widely accepted for payments across Denmark and Finland, especially for personal payments. Facilitates easy cross-border transactions with Norway and Sweden. 
• Easy to use: A clean mobile interface, with simple prompts and quick sales processes.
• Integration options: Payment links, automatic payments, or integrate with some e-commerce platforms for regional sales, plus varied options for physical sales.
• Pay friends, fast: Instant money transfers between users.
• Business portal: Track transactions, access data reports and other simple administrative tasks.

Cons:

• Not a global solution: Limited to Nordic regional availability.
• Limited participants: MobilePay transfers only work between participating banks in supported countries.
• Percent-based transaction fees: Businesses face per-transaction charges that don’t scale well.
• No open banking support: Meaning no direct account-to-account payments, no data control, and no flexibility.

While MobilePay is a good solution for businesses in Denmark and some neighbouring countries, it is based on card processing and therefore comes with the related limitations; high fees, slow settlements, fraud and chargebacks.

In contrast, an open banking provider like Noda leverages PSD2-compliant APIs to initiate payments directly from the payer's bank account to the merchant, bypassing card networks entirely.

Why Noda is a Better Alternative

Noda offers open banking-powered payments that go beyond what MobilePay can provide, facilitating instant payments, ultra-low fees and no chargebacks and enhanced security.

While MobilePay is locked into Denmark and Finland with a closed network of users and banks, Noda supports direct bank payments across 28 countries with strong coverage in the UK and EU. It’s designed for scalability and control—making it ideal for modern small-to-medium businesses.

Key features of Noda

• Save money: Eliminate costly card fees.
• Instant payments: Get paid directly into your business account with instant settlement, as opposed to typical card processing times of 1-3 business days.
• Easy, fast integration: No-code options for non-developers, like plugins or payment links and robust APIs for teams that want custom control.
• Global coverage: Noda works for both local and international businesses, regardless of customers’ bank or country.
• Data enrichment: Financial insights and forecasting for merchants, plus Know Your Customer.

MobilePay vs. Noda Open Banking

Unlock More Payment Potential with Noda

For business operating within Denmark or Finland and looking for simple peer-to-peer payments, MobilePay is a decent option.

But if you want to scale your business, cut transaction cost by up to 80%, and offer customers access to modern fintech infrastructure and ultra-efficient payment processes, Noda is the future.

Our open banking means freedom from card networks, regional limits, and opaque fees and brings your business into the next generation of payments—efficient, flexible, and borderless.

Chat with the Noda team today and discover the benefits for your business.