June 15, 2018 / 5:00 AM / in 5 days

Norway approves merger of payments services Vipps, BankID, BankAxept

OSLO, June 15 (Reuters) - The merger of payments services Vipps, BankID and BankAxept is approved in line with recommendations from Norway’s financial supervisory authority, the finance ministry said late Thursday.

The merger is an attempt to improve product offering and prepare for competition against global technology firms after certain regulatory changes made it possible for companies outside the banking industry to facilitate payments. (Reporting by Camilla Knudsen, Editing by Sherry Jacob-Phillips)

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