Norway Payments Market Size & Share Analysis - Growth Trends & Forecasts (2025 - 2030)

The Norway Payments Market is Segmented by Mode of Payment (Point of Sale (Card Payments, Digital Wallet, Cash), Online Sale (Card Payments and Digital Wallet)). The Market Sizes and Forecasts are Provided in Terms of Value in USD for all the Above Segments.

Norway Payments Market Size

Norway Payments Market Summary
View Global Report

Norway Payments Market Analysis

The Norway Payments Market size is estimated at USD 37.38 billion in 2025, and is expected to reach USD 61.06 billion by 2030, at a CAGR of 10.31% during the forecast period (2025-2030).

E-commerce payment preferences are shifting away from cash and credit cards to digital wallets and buy now, pay later options (BNPL). Credit cards' dropping share is due to the rise of alternative payment methods, volume transferring to credit- and debit-linked digital wallets, customers choosing interest-free credit in BNPL, and credit-centric sectors like travel recovering from pandemic damage.

  • The Norway payment system is gradually shifting from cash to digital payments. Payments are becoming increasingly cashless, assisting in the growth of digital economies and payment infrastructure innovation. Contactless payments are becoming more popular in a variety of places throughout the world. Contactless payment solutions at the point of sale, such as face recognition, Quick Response (QR) codes, or Near-field Communication (NFCs), are transforming the countries' payment environment.
  • Apps for mobile banking are becoming more popular. App developers can identify the immediate impact of these apps and create them to satisfy the needs of all users. Because of artificial intelligence, banking consumers receive assistance. Instead of being forced to visit a physical location, customers now have more options than earlier.
  • The mobile transaction market has evolved, and more and more service providers are requesting new mobile payment solutions - as surcharged text message payments and as accurate mobile payments. Despite the widespread use of credit cards, substantial cash is still circulating. On the other hand, mobile and contactless technology will provide consumers with payment options as convenient as cash.
  • However, while digital payment systems offer advantages, there also pose privacy and security risks that can impact customers, merchants, markets, and governments and impede the market growth. Payment systems must be modified to ensure privacy while employing strong encryption and open standards. Data privacy legislation and a strong market regulator are also necessary.
  • The pandemic-induced lockdown and mobility restrictions significantly impacted e-commerce in Norway, driving demand to new highs, bringing new shoppers and sellers into digital platforms, and offering players long-term growth. The containment efforts introduced people to online buying and motivated experienced online buyers to make more purchases, making the e-commerce business one of the largest beneficiaries of the pandemic. This helped e-commerce payments or online sales become a key metric in the market studied.

Norway Payments Industry Overview

The norway payments market is fragmented with the presence of major players like Vipps AS, Nets A/S, Bank Norwegian, Klarna Bank AB, and PayPal Holdings Inc. Players in the market are adopting strategies such as partnerships, mergers, innovations, and acquisitions to enhance their product offerings and gain sustainable competitive advantage.

In June 2023 - Nets Finland has announced to launch Npay - a pan-European payment terminal solution for merchants, Where The new terminal technology provides merchants with an easy and versatile solution for accepting payments in physical store​s and facilitates payment acceptance through leading card schemes, such as Visa and Mastercard, and is prepared for use with local systems. 

In October 2022, MobilePay, located in Denmark, announced that the EU Commission has authorized its merger with Vipps, based in Norway. The merger would develop a significant Nordic and European mobile wallet, as the new combined entity will have about 11 million users, 400,000 merchants, and 900 million transactions each year.

In April 2022, Klarna, a global retail bank, payments, and shopping service, announced the completion of its acquisition of PriceRunner, the comparison shopping service in the Nordic region with operations in Sweden, Denmark, Norway, and the United Kingdom. PriceRunner will bring new features to the Klarna app globally in the form of rich product discovery, price comparisons, and product reviews to help consumers save time and money and make informed decisions to take control of their finances.

In March 2022, Nets Group expands the framework agreement with DNB, one of Norway's largest banks, continuing the current collaboration. This comprises numerous important payment services, information technology, and other financial service delivery.

Norway Payments Market Leaders

  1. Vipps AS

  2. Nets A/S

  3. Bank Norwegian

  4. Klarna Bank AB

  5. PayPal Holdings Inc.

  6. *Disclaimer: Major Players sorted in no particular order
Norway Payments Market Concentration
Need More Details on Market Players and Competitors?
Download PDF

Norway Payments Market News

  • September 2023 : Tata Consultancy Services (TSC) has partnered with BankID BankAxept AS, Norway’s national payment and electronic identity systems provider. This alliance aims to establish and manage an operations command center.
  • June 2022: Bulder Bank, a Norwegian financial services provider, launched new enriched data transaction services for its retail banking customers. The new service transforms previously unorganized payment data and returns enhanced and intuitive information that displays the clean merchant's name, the corresponding logo, and the category.
  • May 2022: The government of Norway announced its plan to replace the digital ID authentication platform BankID with new apps which require face or fingerprint biometrics and passwords or PINs, in some cases, for users to log in and access banking services online. Such developments will further enhance the payment system in the studied market.
  • April 2022: The anti-fraud and identity verification platform Sphonic, based in the United Kingdom, was bought by digital ID company Signicat, a Norwegian business. Signicat thinks that by integrating Sphonic's know your customer (KYC), know your business (KYB), and anti-money laundering (AML) solutions into its existing identity platform, it would be able to better safeguard financial institutions from fraud, financial crime, and money laundering.

Norway Payments Market Report - Table of Contents

1. INTRODUCTION

  • 1.1 Study Assumptions and Market Definition
  • 1.2 Scope of the Study

2. RESEARCH METHODOLOGY

3. EXECUTIVE SUMMARY

4. MARKET INSIGHTS

  • 4.1 Market Overview
  • 4.2 Industry Stakeholder Analysis
  • 4.3 Industry Attractiveness-Porter's Five Forces Analysis
    • 4.3.1 Bargaining Power of Suppliers
    • 4.3.2 Bargaining Power of Buyers/ Consumers
    • 4.3.3 Threat of New Entrants
    • 4.3.4 Threat of Substitute Products
    • 4.3.5 Intensity of Competitive Rivalry
  • 4.4 Evolution of the payments landscape in the country
  • 4.5 Key market trends pertaining to the growth of cashless transaction in Norway
  • 4.6 Assessment of Impact of COVID-19 on the Market

5. MARKET DYNAMICS

  • 5.1 Market Drivers
    • 5.1.1 Government Initiatives
    • 5.1.2 Adoption of online mode of Payments
  • 5.2 Market Challenges
    • 5.2.1 Lack of data security
  • 5.3 Market Opportunities
    • 5.3.1 Move towards Cashless Society
    • 5.3.2 New Entrants to Drive Innovation Leading to Higher Adoption
  • 5.4 Key Regulations and Standards in the Digital Payments Industry
  • 5.5 Analysis of Major Case Studies and Use-cases
  • 5.6 Analysis of key Demographic Trends and Patterns Related to Payments Industry in Norway (Coverage to include Population, Internet Penetration, Banking Penetration/Unbanking Population, Age, Income, etc.)
  • 5.7 Analysis of the Increasing Emphasis on Customer Satisfaction and Convergence of Global Trends in Norway
  • 5.8 Analysis of Cash Displacement and Rise of Contactless Payment Modes in Norway
  • 5.9 Commentary on the Rise of Real-Time payment methods in Norway (Coverage Includes Current Market Share of Payment Instruments by Volume)

6. MARKET SEGMENTATION

  • 6.1 By Mode of Payment
    • 6.1.1 Point of Sale
    • 6.1.1.1 Card Payments (includes Debit Cards, Credit Cards, Bank Financing Prepaid Cards)
    • 6.1.1.2 Digital Wallet (includes Mobile Wallets)
    • 6.1.1.3 Cash
    • 6.1.1.4 Other POS Payment Modes
    • 6.1.2 Online Sale
    • 6.1.2.1 Card Payments (includes Debit Cards, Credit Cards, Bank Financing Prepaid Cards)
    • 6.1.2.2 Digital Wallet (includes Mobile Wallets)
    • 6.1.2.3 Others (includes Cash on Delivery, Bank Transfer, and Buy Now, Pay Later)

7. COMPETITIVE LANDSCAPE

  • 7.1 Company Profiles
    • 7.1.1 Vipps AS
    • 7.1.2 Nets A/S
    • 7.1.3 Bank Norwegian
    • 7.1.4 Klarna Bank AB
    • 7.1.5 PayPal Holdings Inc.
    • 7.1.6 BankAxept
    • 7.1.7 Visa Inc.
    • 7.1.8 Mastercard Inc.
    • 7.1.9 American Express
  • *List Not Exhaustive

8. INVESTMENT ANALYSIS

9. MARKET OPPORTUNITIES AND FUTURE TRENDS

**Subject to Availability
You Can Purchase Parts Of This Report. Check Out Prices For Specific Sections
Get Price Break-up Now

Norway Payments Industry Segmentation

The payments market is segmented by two modes of payment, POS and e-commerce. E-commerce payments include online purchases of goods and services, such as purchases on e-commerce websites and online bookings for travel and accommodation. However, they do not include online purchases of motor vehicles, real estate, utility bills (such as water, heating, and electricity), mortgage payments, loans, credit card bills, or purchases of shares and bonds. In the POS segment, all transactions at the physical point of sale are included in the market scope. It includes traditional in-store transactions and all face-to-face transactions, regardless of where they occur. Cash is considered for both cases (cash on delivery for e-commerce sales).

The Norway payments market is segmented by mode of payment (point of sale (card payments, digital wallet, cash), online sale (card payments and digital wallet)). The market sizes and forecasts are provided in terms of value in USD for all the above segments.

By Mode of Payment Point of Sale Card Payments (includes Debit Cards, Credit Cards, Bank Financing Prepaid Cards)
Digital Wallet (includes Mobile Wallets)
Cash
Other POS Payment Modes
Online Sale Card Payments (includes Debit Cards, Credit Cards, Bank Financing Prepaid Cards)
Digital Wallet (includes Mobile Wallets)
Others (includes Cash on Delivery, Bank Transfer, and Buy Now, Pay Later)
By Mode of Payment
Point of Sale Card Payments (includes Debit Cards, Credit Cards, Bank Financing Prepaid Cards)
Digital Wallet (includes Mobile Wallets)
Cash
Other POS Payment Modes
Online Sale Card Payments (includes Debit Cards, Credit Cards, Bank Financing Prepaid Cards)
Digital Wallet (includes Mobile Wallets)
Others (includes Cash on Delivery, Bank Transfer, and Buy Now, Pay Later)
Need A Different Region or Segment?
Customize Now

Norway Payments Market Research FAQs

How big is the Norway Payments Market?

The Norway Payments Market size is expected to reach USD 37.38 billion in 2025 and grow at a CAGR of 10.31% to reach USD 61.06 billion by 2030.

What is the current Norway Payments Market size?

In 2025, the Norway Payments Market size is expected to reach USD 37.38 billion.

Who are the key players in Norway Payments Market?

Vipps AS, Nets A/S, Bank Norwegian, Klarna Bank AB and PayPal Holdings Inc. are the major companies operating in the Norway Payments Market.

What years does this Norway Payments Market cover, and what was the market size in 2024?

In 2024, the Norway Payments Market size was estimated at USD 33.53 billion. The report covers the Norway Payments Market historical market size for years: 2019, 2020, 2021, 2022, 2023 and 2024. The report also forecasts the Norway Payments Market size for years: 2025, 2026, 2027, 2028, 2029 and 2030.

Norway Payments Industry Report

Statistics for the 2025 Norway Payments market share, size and revenue growth rate, created by Mordor Intelligenceā„¢ Industry Reports. Norway Payments analysis includes a market forecast outlook for 2025 to 2030 and historical overview. Get a sample of this industry analysis as a free report PDF download.

Norway Payments Market Report Snapshots

Compare market size and growth of Norway Payments Market with other markets in Technology, Media and Telecom Industry

Access Report long-arrow-right