Norwegian lender DNB has launched a peer-to-peer (P2P) mobile payment solution called Vipps in association with Indian IT firm Tata Consultancy Services (TCS).
TCS said that the solution can be used on all mobile devices, making mobile payments as simple as sending a text message. It will also allow short chat messaging between the users.
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The application is not just for DNB account holders, but can be used by any consumer, TCS added.
The technology company claims that 25% of Norway’s population has started using ‘Vipps’ within six months of its launch.
DNB Group executive vice president and head of IT and operations Liv Fiksdahl said: "For us, the project has demonstrated that TCS is a trustworthy partner with good focus on strategic business value. As DNB’s digital partner, TCS has shown strong customer focus. TCS has led the project with first class technical expertise and great stamina."
TCS vice president of banking and financial services Susheel Vasudevan said: "Our deep domain knowledge combined with an understanding of consumer behavior in the context of digital technologies helps us to partner with DNB, a leading bank in Norway, to transform mobile and peer-to-peer digital payments space as part of an overall digital transformation effort."
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