Best E-Wallets for Northern Europe

In Northern Europe, a region known for its tech-savvy population and forward-thinking approach to finance, several e-wallets have gained widespread adoption.

In this post, we'll take a look at some of the best e-wallets available in Northern Europe and explore their features and benefits in different countries. 

Whether you're a local resident, a frequent visitor, or just curious about the latest fintech trends, keep reading to discover the top e-wallets for Northern Europe.

MobilePay: 

MobilePay is a Danish digital wallet that allows users to make payments and transfer money between friends and family. It is widely accepted in Denmark and is also available in Norway and Finland.

MobilePay was launched in 2013 by Danske Bank, one of the largest banks in the Nordic region. Since then, it has gained popularity among consumers and businesses as a convenient and secure way to make payments.

MobilePay Main Features

Money Transfers & Mobile Payments

MobilePay allows users to make payments using mobile phones, without the need for cash or physical cards. You can link your bank account or credit card to their MobilePay and then use the app to make payments in stores, online, or to other MobilePay users.

Widespread Adoption

One of the key advantages of MobilePay is its widespread adoption in Northern Europe. In Denmark, for example, it is estimated that over 90% of the population uses MobilePay. This means that it is widely accepted by merchants and service providers, making it easy to manage financials in a variety of contexts and situations.

User-Friendly App

Another advantage of MobilePay is its ease of use. The app is user-friendly and intuitive, so transactions can be completed quickly and securely. Additionally, this e-wallet offers features such as split payments and request payments, which make it easy to share expenses with friends and family.

MobilePay Gift Box

This e-wallet also has a gift-giving feature that simplifies and adds enjoyment to digital gifting. When transferring money or sending gift cards, MobilePay Gift Box allows you to add creative wrapping and a personalized message, making the experience both fun and convenient.

Security Features

In terms of security, MobilePay uses advanced encryption and authentication technologies to protect users' personal and financial information. Transactions are also monitored and reviewed to detect and prevent fraud.

Final Thoughts

Overall, MobilePay widespread adoption, ease of use, and strong security features make it a convenient and secure way to make payments in a variety of situations. Here is the MobilePay official page in English, so you could learn more about their financial products. However, MobilePay is designed to be used primarily in Danish & Finnish languages.

Swish: 

The app is so popular that retailers all over Sweden can't get enough of it. Plus, you can use Swish for peer-to-peer transactions too - perfect for splitting the bill or paying back a friend. And get this, Swish was created in 2012 by a supergroup of banks including Nordea, Handelsbanken, SEB, Danske Bank, Länsförsäkringar Bank, and Swedbank. Who knew banks could work together to create something awesome?

Swish Main Features

Mobile Payments & Money Transfers

The app allows users to send and receive money quickly and easily using their mobile phones. Swish is widely used in Sweden and is accepted by many retailers, including restaurants, shops, and online merchants. As mentioned above, it is also used for peer-to-peer transactions, such as splitting a bill at the restaurant or paying back a loan to a friend.

To use Swish, users need to link their bank account to the app. They can then send money to anyone with a Swedish bank account by entering their mobile number. The recipient will get a notification on their phone and can then accept the payment. The money is transferred instantly and can be used immediately.

User-Friendly Interface

One of the key advantages of Swish is its ease of use. The app is very user-friendly and intuitive, and transactions can be completed quickly and securely with just a few taps on the screen. Additionally, Swish offers features such as recurring payments and invoicing, which make it easy for users to manage their finances.

Security Features

In terms of security, Swish uses advanced encryption and authentication technologies to protect users' personal and financial information. Transactions are also monitored and reviewed to detect and prevent fraud.

Final Thoughts

To sum up, Swish is a reliable mobile payment app for users in Sweden. Its widespread adoption, ease of use, and strong security features make it a convenient and secure way to make payments in a variety of situations. Actually, the idea of creating Swish was born out of the necessity to make splitting the bill in the restaurant less of a hassle. And by 2022 Swish was serving more than 8 million people. You can read the full story on the Swish official website.

Vipps: 

Vipps, the Norwegian mobile payment app, allows you to pay bills, transfer money, and make payments on the go. Vipps was launched in 2015 by DNB, the largest financial services group in Norway, and it's become a favorite among locals. With its widespread acceptance by retailers, including restaurants, shops, and online merchants, Vipps has become a true game-changer. 

Vipps Main Features

Mobile Payments & Money Transfers

Vipps supports peer-to-peer transactions, such as splitting bills or repaying debts. To use Vipps, users must first link their bank accounts or credit cards to the app. Payments can then be made by scanning a QR code or entering a phone number, and the transferred funds are instantly available for use.

User-Friendly App

One of Vipps' primary benefits is its simplicity and ease of use. Its user-friendly and intuitive interface allows for transactions to be completed securely. Scanning QR codes is also a very convenient feature: it eliminates possibilities of making a payment to the wrong person.

Special Features

Vipps has features like recurring payments and invoicing that enable users to easily manage their finances. In addition to standard payment services, Vipps has also introduced new services to enhance its functionality. Vipps Faktura, for instance, enables users to send and receive invoices through the app, while Vipps GO is designed specifically for small businesses to receive payments from customers.

Security Features

Vipps takes user security seriously and employs advanced encryption and authentication technologies to protect sensitive personal and financial information. Transactions are regularly monitored and reviewed to detect and prevent fraudulent activities.

Final Thoughts

Vipps is a trusted and reliable mobile payment app in Norway, known for its widespread adoption, ease to use app, and advanced security features. It's a convenient and secure way for users to make payments in a range of contexts. However, Vipps only serves Norwegian nationals with some exceptions for foreigners who live in Norway. To get Vipps as a foreigner, you need a BankID. But getting a BankID also has some requirements. Learn more about how to get Vipps through the Vipps official Terms & Conditions page. 

Revolut: 

Revolut is a digital banking app that offers a range of financial services including a digital wallet, a debit card, and convenient fee-free currency exchange. Revolut was founded in 2015 and has its headquarters in the United Kingdom. 

The company has since grown rapidly and established offices in numerous countries around the world, including the United States, Australia, and Singapore. It is available in several North European countries, including Sweden, Denmark, Norway, and Finland. 

Revolut Main Features:

User-Friendly App

One of the primary benefits of using Revolut is its simplicity and convenience. Users can easily manage their finances through the app's user-friendly interface, which allows them to monitor their spending, make payments, and transfer funds. Revolut's digital wallet feature also enables users to securely store and manage their money in multiple currencies.

Debit Card

Revolut's debit card, which can be linked to the app, provides users with access to their funds and allows them to make payments in multiple currencies without incurring additional fees. You can get your own debit card through the official Revolut page. May we recommend a metal one if feeling a bit fancy? 

Exchange Currency

Additionally, the Revolut app's exchange feature allows users to exchange currencies at real-time rates. This special feature is especially beneficial for travelers or individuals who make international purchases. Revolut does not charge a currency conversion fee, which is typical for regular banks, and offers very attractive exchange rates. 

Get Insured with Revolut

Revolut has also introduced additional services, including insurance, budgeting tools, and cryptocurrency trading. These features allow users to further customize their financial management experience and tailor it to their individual needs.

Spend Management

Business Spend Management allows you to issue physical and virtual debit cards to as many employees as you need. Through this feature, you can track your company's spending, set daily or weekly limits, and even seamlessly integrate it with your office software. 

Commodity Trading 

Revolut app allows you to purchase valuable commodities such as gold, silver, and other precious metals through its platform. Thanks to Revolut's commodities feature, customers can buy and sell these assets at competitive prices with real-time market prices, and instantly track their performance. If that's something you are interested in, check out Revolut's Commodities Trading page. 

Gold & Silver Storage

Additionally, Revolut offers various options for the storage of physical gold or silver, including secure vaults with accredited third-party partners. This ensures that customers can securely stow their assets while maintaining easy access to them through the Revolut app.

Security Features

Revolut prioritizes security, utilizing advanced encryption and authentication technologies to protect users' personal and financial information. The app also allows users to easily freeze or unfreeze their debit cards in case of loss or theft, providing an added layer of security.

Final Thoughts

Overall, Revolut is a top digital banking app that provides users with a range of financial services. Its simplicity, convenience, and security features make it a favorite choice for many individuals and businesses looking for a comprehensive digital banking solution. Travelers will also appreciate Revolut’s currency exchange feature.

Rapyd: 

When it comes to financial technology, Iceland might not be the first nation that springs to mind. But thanks to companies like Rapyd, this country is quickly becoming a hotbed of innovation in the payments space. Known as the payment solution that powers the Icelandic fintech scene, this e-wallet got special features too!

Rapyd Main Features

Payment Gateway

One of Rapyd's core services is its payment gateway, which allows businesses to accept payments through a variety of transaction methods, including credit cards, bank transfers, and digital wallets. Rapyd also offers payment processing and settlement services, which help businesses manage their cash flow and reconcile their trades.

Payout Services

In addition to payment services, Rapyd also offers a range of financial services, such as global payout services, compliance and fraud prevention tools, and currency exchange services. Its payout services enable businesses to make payments to individuals or businesses in multiple currencies, while its compliance and fraud prevention tools help manage regulatory compliance and reduce the risk of fraud.

Flexibility

Rapyd's platform is designed to be flexible and scalable, making it suitable for businesses of all sizes, from small startups to large enterprises. Its APIs allow for easy integration with existing systems, and its global network of partners ensures that businesses can access payment and financial services wherever they operate.

Rapyd Collect for Online Gaming

Rapyd Collect created specifically for the online gaming industry allows to accept hundreds of payment methods and create accounts for unbanked players. It provides solutions for gaming companies to reach new markets around the globe. Learn more through Rapyd official page for gaming solutions. 

E-commerce Tools 

For businesses that want to sell online, Rapyd offers a range of e-commerce tools and services. These include payment gateways, fraud detection and prevention, and recurring billing options. Rapyd's e-commerce solutions are designed to be easy to integrate with popular e-commerce platforms like Shopify and WooCommerce. Learn more through Rapyd official page for e-commerce solutions.

Security Features:

Rapyd’s main features is two-factor authentication, which requires users to verify their identity through a code sent to their mobile device or email. Rapyd also uses tokenization to secure card information, replacing sensitive data with a unique identifier, reducing the risk of data breaches. The platform employs anti-fraud measures, such as risk scoring, device fingerprinting, and machine learning algorithms, to detect and prevent fraudulent activities.

Final Thoughts:

To conclude, Rapyd is a versatile payment solution that is well-suited to the needs of startups and businesses in Iceland and abroad. With its focus on innovation and security, Rapyd is helping to drive the growth of Iceland's fintech industry and position the country as a hub for payments technology. Available in Icelandic, Danish and English. 

SEB Pank Wallet:

SEB Pank Wallet is a mobile payment app that has gained popularity in Estonia for its ease of use and convenient features. Here's a closer look at what SEB Pank Wallet has to offer. Available in Estonian, English and Russian. 

SEB Pank Wallet Main Features:

Mobile Payments 

With SEB Pank Wallet, users can easily make payments using their mobile devices. The app supports contactless payments and is accepted by a growing number of merchants in Estonia. Users can also make online purchases using the app.

Money Transfers 

SEB Pank Wallet also allows users to transfer money to other users of the app. This feature is particularly useful for splitting bills with friends or sending money to family members. The app also allows users to transfer money to non-SEB accounts in Estonia.

Budgeting Tools 

SEB Pank Wallet's budgeting tools help users keep track of their spending and set budgets for different categories. The app automatically categorizes transactions and provides users with a visual representation of their spending habits. You can also set up alerts to get notified when you reach the budget limit.

Robo-Advisor

Explore the world of investments with the help of Robo-Advisor. SEB's robo-investing service uses an algorithm to match customers with an investment portfolio that aligns with their financial goals and risk profile. Customers can choose from a range of portfolios with varying levels of risk and return potential and can easily monitor their investments through SEB's online platform. 

You can also choose to receive advice to invest in one of the actively managed SEB group funds. Learn more on SEB's official robo-advisor page. 

Security Features 

SEB Pank Wallet app uses encryption and other security features to ensure that users' personal and financial information is protected. In addition, users can set up biometric authentication, such as fingerprint or facial recognition, to access their accounts.

Final Thoughts

Overall, SEB Pank Wallet is a convenient and reliable way to manage your finances in Estonia. With its mobile payment and money transfer features, budgeting tools, and security features, SEB Pank Wallet makes it easy for users to stay on top of their finances and make payments on the go. Special Robo-Advisor feature is a plus as well for anyone interested in investing.

Pivo:

Pivo is a popular mobile payment app that became a household name in Finland. Pivo has over 1.2 million registered customers in this country already. The app offers a range of features that allow users to manage their finances on the go. Here's a closer look at what Pivo has to offer.

Pivo’s Main Features

Mobile Payments

Pivo's mobile payment feature allows users to make payments with just a few taps on their smartphone. The app supports contactless payments and users can also make online purchases using it. Pivo offers a "request money" feature that allows users to request payment from friends and family members who also have Pivo accounts.

Rewards

Pivo offers a rewards program that allows its clients to earn points for every transaction they make using the app. These points can be redeemed for discounts at select retailers or other rewards. Pivo also partners with various merchants to offer exclusive deals and promotions to its customers.

Budgeting Tools

Pivo's budgeting tools allow users to keep track of their spending and set budgets for different categories. The app automatically sorts transactions and provides users with a visual representation of their spending habits. Pivo’s customers can also set up alerts to notify them when they reach their budget limit.

Pivo Student Card

Pivo’s student card is free for the members of student organizations, including even exchange students. This card provides many benefits including Kela’s meal subsidy, bus and train travel discounts and a lot more. Find out additional info about this cool feature at Pivo's Student Card official page.

Security Features:

Pivo offers biometric authentication for secure logins and payments, along with tokenization to protect card information from fraud. The app also uses transaction monitoring and machine learning algorithms to detect and prevent suspicious activity.

Final Thoughts:

Pivo has become a go-to option for many people in Finland who want to manage their finances in a more efficient and fulfilling way. With its focus on mobile payments, rewards, and budgeting tools, Pivo has made it easier than ever for Finns to stay on top of their finances and make the most out of their money.

Most Popular E-Wallets by Country:

Here's a breakdown of the top popular e-wallets in Northern Europe by country, so you could spot one that works for you in an instant:

Denmark:

• MobilePay: This is a popular e-wallet in Denmark and is widely used for both P2P and merchant transactions.

Estonia:

• SEB Pank Wallet: SEB Pank is a very popular e-wallet in Estonia that is widely used for mobile payments.

Finland:

• MobilePay: MobilePay is popular among consumers and merchants.

• Pivo: Pivo is another popular e-wallet in Finland that is widely used for mobile payments and rewards.

Iceland:

• Rapyd: Rapyd Wallet is a popular payment solution in Iceland that includes a mobile wallet, card payment processing, and e-commerce tools.

Norway:

• Vipps: Vipps is widely used for P2P transactions and mobile payments.

• Revolut: Revolut is also available in Norway and is a widespread digital banking app that includes a digital wallet, a debit card, and a fee-free currency exchange.

Sweden:

• Swish: Swish is the primary e-wallet in Sweden that is utilized for mobile payments and P2P transactions.

• Revolut: Revolut is also available in Sweden and is liked for its user-friendly digital wallet, customizable debit cards, and no-hassle currency exchange.

In Conclusion

Ultimately, the best digital wallet for you will depend on your specific needs and preferences, as well as your country of residence. Whether you're looking for a robust digital wallet that offers a range of features and benefits, or a simpler option that lets you easily send and receive money, there's sure to be an e-wallet that fits your needs. By researching and comparing different options for you, we provide essential info so you could pick the perfect e-wallet that suits your lifestyle and helps you manage your finances more effectively.