Vipps MobilePay close to profitability after strong turnaround
Vipps MobilePay has improved its results by NOK 1 billion over the past two years, while maintaining strong growth. – We are now close to profitability, and well positioned for further growth, says CEO Rune Garborg.
Vipps MobilePay AS increased revenues to NOK 2.1 billion in 2025, up NOK 381 million from 2024. The company reduced its pre-tax loss to NOK 135 million, from NOK 751 million the year before, an improvement of NOK 616 million. Transaction revenues grew by 30 percent.
In the fourth quarter of 2025, the company delivered its first-ever quarter with a positive pre-tax result.
- The Vipps MobilePay team has delivered a highly ambitious financial turnaround over two years, while maintaining strong growth. This is something to be proud of, says Garborg.
Growth continues
As results improve, revenues are also increasing, reaching NOK 2.1 billion in 2025. Vipps MobilePay now has 12.4 million users across the Nordics.
- This is not a cost-cutting exercise. We continue to realise synergies from the merger, but most importantly, we are growing into profitability, says Garborg.
Finland stands out as the strongest growth market, with 79 percent growth in e-commerce.
- Finland shows what happens when both product and distribution gain momentum at the same time, says Garborg.
Competing with the giants
Vipps MobilePay competes with global technology companies to become the preferred wallet in the Nordics.
– This is a market where the world’s largest tech companies are competing for customers. To win, we need to be the best and closest to our users in everyday life. That is where we have a clear advantage over global wallets, says Garborg.
During the year, the company launched several new payment solutions, including tap to pay with support for international cards. Going forward, Vipps MobilePay will focus on loyalty, customer benefits, and expanding the wallet beyond payments.
– Our ambition is simple: to become the preferred wallet in the Nordics, and build services that go beyond payments, says Garborg.
Key 2025 numbers for Vipps MobilePay: · Revenues: NOK 2.1 billion · Result improvement of close to NOK 1 billion since 2023 · NOK 616 million result improvement in 2025 alone · NOK 135 million in losses · Profitable fourth quarter 2025 · 12.4 million users · 30% growth in transaction revenues