Visa announced the launch of three new digital wallets in Europe—BBVA Pay in Spain, Klarna’s app in 14 markets, and Vipps MobilePay in Norway—making them the first Visa‑enabled wallets to use NFC host‑card‑emulation on iOS devices. The move follows the European Union’s Digital Markets Act, which removed a long‑standing barrier and allowed third‑party wallets to tap‑to‑pay on Apple devices.
The regulatory shift is a key catalyst. By opening iOS NFC access, the Digital Markets Act has enabled Visa to extend its network effect into a market that was previously dominated by Apple Pay and Google Pay. This expansion positions Visa as a full‑stack payments platform that can offer end‑to‑end solutions to merchants and consumers across Europe.
The European mobile‑wallet market is already large and growing. Current data show that 59% of e‑commerce transactions are made with mobile wallets, and the share is projected to reach 75% by 2030. By adding BBVA Pay, Klarna, and Vipps MobilePay to its ecosystem, Visa is poised to capture a larger share of this expanding transaction volume and reinforce its competitive stance against rival payment services.
Visa’s technology stack underpins the launch. The company’s Visa Token Service and software developer kit provide secure tokenization and seamless integration, allowing the new wallets to process payments through Visa’s global network without exposing cardholder data. The partnership with local financial institutions and fintechs gives Visa deep market penetration and local expertise in each region.
Management emphasized the strategic importance of the rollout. BBVA’s Luis Simoes said the launch “reflects BBVA’s strong commitment to innovation, marking a milestone in the European banking industry.” Klarna’s David Fock added that “Tap to Pay brings us closer to our vision of Klarna being everywhere for everything.” Visa’s CEO Ryan McInerney highlighted that the expansion “strengthens our network effect and accelerates our journey toward becoming a full‑stack payments platform.”
The launch is expected to increase Visa’s transaction volume and deepen its integration with leading fintech platforms, reinforcing its strategy to capture growth in the mobile‑payments space and to compete more directly with Apple Pay and Google Pay in Europe.
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