Norwegian payment service Vipps to introduce new charge in August
Norway’s most popular money-sharing app, Vipps, will bring in a new rule in August, which will see more users paying fees for larger transfers.
Popular Norwegian payment service Vipps will introduce a new charge from August. The app will charge a one percent fee for transfers totalling more than 5,000 kroner to the same account in 24 hours.
Previously charges only applied when a single transfer was over 5,000 kroner, but people would often just split payments to avoid paying any charges.
Under the new system, you will be required to pay a charge if, for example, you make two split payments totalling more than 5,000 kroner to the same person over a 24-hour period.
If you send someone money totalling 6,000 kroner to somebody, you will need to pay a charge of 60 kroner, even if you split the payments.
A pilot scheme has already been rolled out to a few users to test functionality. From August, however, the new rules will apply to everyone.
Vipps has said that the charge was being implemented to cover costs.
“Friend payment with Vipps is primarily a service to simplify everyday payments between people. At the same time, it is the case that Vipps has cost every time someone uses the service. To cover these costs, we charge a fee of one percent for amounts over 5,000 kroner,” Even Westerveld from Vipps press team told online publication Nettavisen.
“It will be fairer because everyone pays the same fee for high amounts. In addition, it helps to continue to keep everyday transfers free,” he added.
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Popular Norwegian payment service Vipps will introduce a new charge from August. The app will charge a one percent fee for transfers totalling more than 5,000 kroner to the same account in 24 hours.
Previously charges only applied when a single transfer was over 5,000 kroner, but people would often just split payments to avoid paying any charges.
Under the new system, you will be required to pay a charge if, for example, you make two split payments totalling more than 5,000 kroner to the same person over a 24-hour period.
If you send someone money totalling 6,000 kroner to somebody, you will need to pay a charge of 60 kroner, even if you split the payments.
A pilot scheme has already been rolled out to a few users to test functionality. From August, however, the new rules will apply to everyone.
Vipps has said that the charge was being implemented to cover costs.
“Friend payment with Vipps is primarily a service to simplify everyday payments between people. At the same time, it is the case that Vipps has cost every time someone uses the service. To cover these costs, we charge a fee of one percent for amounts over 5,000 kroner,” Even Westerveld from Vipps press team told online publication Nettavisen.
“It will be fairer because everyone pays the same fee for high amounts. In addition, it helps to continue to keep everyday transfers free,” he added.
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