Visa (NYSE:V) continues to push more deeply into the jungle that is fintech. The world’s dominant payment card processor has signed a deal with a Scandinavian company in the digital wallet sphere.
Through the arrangement, Visa said in a press release last week, “Visa’s clients and partners will now be able to take advantage of the Vipps platform to create their own digital wallets and offer customers new ways to pay, be paid and manage their money.”
This will apply to its cardholders in Europe; the company did not mention when and if the arrangement would be expanded to other parts of the world.
Neither the terms nor the price of the deal were made public.
Its timing seems appropriate. Contactless commerce — either via online purchasing or with specialty cards that don’t need to be swiped or read — has surged during the coronavirus pandemic.