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Financials

REFILE-Norwegian banks to expand mobile payment app for business use

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OSLO, May 2 (Reuters) - ** Norwegian banks will launch on Thursday a new version of the mobile payment app Vipps, VippsGO, to provide more opportunities for organizations and businesses to sell their goods and services, bank DNB said in a press release on Tuesday ** In February more than 100 Norwegian banks agreed to develop Vipps electronic payments app in a bid to fend off competition from Nordic rivals and the likes of Facebook, Apple and Google ** Vipps allows individuals to make free money transfers up to a certain size, and can also be used to make online and in-store payments for goods and services ** Initially Vipps was developed by Norway’s biggest bank DNB, which has a 52 percent stake

Reporting By Ole Petter Skonnord, editing by Nerijus Adomaitis

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