Payments Landscape in Denmark: Opportunities and Risks to 2021

Published: December 2017
No. of Pages: 49
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Payments Landscape in Denmark: Opportunities and Risks to 2021


GlobalData’s "Payments Landscape in Denmark: Opportunities and Risks to 2021", report provides detailed analysis of market trends in the Danish cards and payments industry. It provides values and volumes for a number of key performance indicators in the industry, including credit transfers, cash, direct debit, payment cards, and cheques during the review-period (2013-17e).

The report also analyzes various payment card markets operating in the industry, and provides detailed information on the number of cards in circulation, transaction values and volumes during the review-period and over the forecast-period (2017-21f). It also offers information on the country's competitive landscape, including the market shares of issuers and schemes.

The report brings together GlobalData’s research, modeling, and analysis expertise to allow banks and card issuers to identify segment dynamics and competitive advantages. The report also covers details of regulatory policy and recent changes in the regulatory structure.

This report provides top-level market analysis, information and insights into the Danish cards and payments industry, including -
- Current and forecast values for each market in the Danish cards and payments industry, including debit, and credit cards.
- Detailed insights into payment instruments including credit transfers, cheques, cash, direct debit, and payment cards. It also, includes an overview of the country's key alternative payment instruments.
- E-commerce market analysis and payment methods.
- Analysis of various market drivers and regulations governing the Danish cards and payments industry.
- Detailed analysis of strategies adopted by banks and other institutions to market debit, and credit cards.

- To capitalize on the growing preference for alternative payments, in February 2017 Bokis (a collective of 62 Danish banks) launched a digital wallet supporting payments with Mastercard and Visa international debit and credit cards, which was extended to Dankort customers one month later. The Bokis member banks includes local banks, savings banks, and co-operative banks in Denmark, along with four national banks: Sydbank, Spar Nord Bank, Arbejdernes Landsbank, and Nykredit. The NFC mobile wallet uses Nets’ host card emulation technology and tokenization to ensure secure contactless mobile transactions. The mobile wallet is compatible with both Android and iPhone devices. More recently, in October 2017 Apple introduced Apple Pay in Denmark, supported by Jyske Bank (Visa debit cards only) and Nordea.
- Contactless payments are gradually gaining traction in Denmark. Danske Bank and Jyske Bank began offering contactless Dankort cards from August 2015. Contactless mobile payments are also expected to gain prominence. Nets entered into an agreement with JCB in April 2016 to allow merchants to accept Dankort debit card payments via smartphones using J/Speedy, JCB's contactless technology. J/Speedy can be used to make contactless payments of up to DKK200 ($28.30), with a security code required for transactions above this amount. Following the agreement, the contactless technology was officially launched in Denmark in November 2017.
- In 2016, a statutory provision mandated that all Danish consumers must have access to payments using payment cards, including online payments. This is part of the Payment Accounts Act, based on EU Directive 2014/92/EU(PAD). An earlier regulation stipulated that banks in Denmark should give retail consumers access to making payments using a debit card with balance controls.

Reasons to buy
- Make strategic business decisions, using top-level historic and forecast market data, related to the Danish cards and payments industry and each market within it.
- Understand the key market trends and growth opportunities in the Danish cards and payments industry.
- Assess the competitive dynamics in the Danish cards and payments industry.
- Gain insights into marketing strategies used for various card types in Denmark.
- Gain insights into key regulations governing the Danish cards and payments industry.

Published By: GlobalData
Product Code: GlobalData42146

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