Danske Bank-backed MobilePay, an application for phones with operating systems iOS and Android, agreed to merge with Vipps, an operator of a mobile payment, and Pivo. Financial terms were not disclosed. The banks behind Vipps will own 65% of the new parent company, Vipps, Danske Bank will own 25% and the OP Financial Group will own 10%. “MobilePay has been a fantastic success. At Danske Bank, we are proud to have developed MobilePay, which is providing free, user-friendly and innovative solutions to our users and easy, seamless payment solutions to businesses. However, it is very expensive to compete with global competitors in this space and in order to continue to develop the most attractive solutions for our customers, MobilePay must be part of something bigger to gain scale and pool investments for further innovation, ” Mark Wraa-Hansen, Danske Bank Head of Personal Customers Denmark.