Mastercard Payment Services Infrastructure assumed full technical operations of Norway's National Interbank Clearing System from Nets in 2024. Bits AS, the system owner, retains governance authority under a five-year operational agreement. Physical clearing infrastructure remains in Norway. A contingency site was established in Sweden. Two operational disruptions occurred during the transition year. Both were resolved within the same business day without settlement failure.
Norges Bank signed a formal agreement with the ECB on 28 November 2024 to settle Norwegian krone instant payments through TARGET Instant Payment Settlement. Norway joins Sweden and Denmark in connecting to Eurosystem settlement infrastructure despite remaining outside the EU. Norges Bank commenced separate dialogue on broader T2 participation in February 2025. A decision basis is expected during 2026.
NICS processed 9.7 million transactions daily in 2024. Daily settlement value averaged approximately NOK 405 billion. The system serves 21 direct and 109 indirect participants. Instant payment volumes through NICS Real declined to 204.8 million transactions from 210.2 million in 2023. The decline reflects competition from Vipps mobile payments that bypass the interbank clearing layer. Foreign operational control combined with planned Eurosystem connectivity creates a distinct infrastructure trajectory among Nordic clearing systems.