In an unusual twist in the Nordic mobile payments market, Nordea Bank has jumped ship from a local joint venture that developed Swipp to team with a rival and deploy a more popular system.

"MobilePay is known today for its user friendliness, and we want to contribute to making the solution even more widely used and to continuing the development of MobilePay as an innovative digital payment platform," Peter Lybecker, CEO of Nordea's Danish unit, said in a statement to Bloomberg. 

Swipp, which is based on Bluetooth, has the support of over 70 banks in Denmark. MobilePay, however, is considered the leading mobile payment service in the country. 

Nordea's decision to support MobilePay is seen as a blow to Nets A/S, a Nordic payments system provider. Nets will not be involved in Nordea's MobilePay transactions and will not receive those fees. Nets saw its stock drop 6.5 percent on the heels of the news.