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Norway greenlights 3-way merger in payments sector

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Norway greenlights 3-way merger in payments sector

Norway's finance ministry said the merger between mobile payment application Vipps, electronic identification solutions provider BankID and national payment scheme BankAxept has been approved in line with recommendations from the country's financial supervisory authority, Reuters reported.

The Norwegian Competition Authority had authorized the merger in April on the condition that the merged entity allow rival payment firms access to BankID and BankAxept.