A comprehensive overview of the cards, payments and consumer banking market in Denmark.
Key Topics
Demographics and the economy
Payments environment
Danish cards market
Mobile payments
Profit pool
The networks in Denmark
Key retail banks and issuers
Acquiring and processing
Online acquiring
Danish regulatory and other cards market information
Appendices: Denmark card data
Appendix I: Demographics and the economy
Appendix II: Payments environment
Appendix III: Cards market
Appendix V: Profit pool
Appendix VI: The card networks
Appendix VII: Key retail banks and issuers
Appendix VIII: Acquirers and processing
Appendix IX: Online acquiring
Demographics and Economy:
With a low growth rate typical of most European nations, Denmark is facing the problem of an ageing population and a shortage of young workers entering the workforce.
Payments Environment:
Mobile payments are fast becoming the norm, with an estimated 85% of adults now using the method.
Cards market:
Payment cards usage in Denmark is growing strongly. In 2018, total purchase volume on cards stood at $88 billion, representing growth of 46% since 2012.
Mobile Payments:
Denmark is unsurpassed in Western Europe when it comes to mobile payments, though other Nordic nations such as Norway and Sweden are nipping at its heels for the title.
Profit Pool:
Although pre-tax profit looks low compared to other developed European markets, this market has a healthy profit per card.
The Cards Networks:
Most of the traditional banks, including Danske Bank and Nordea, continue to issue exclusively on the Mastercard network, and the network commands a share of over 90% of cards in issue.
Key Retail Banks and Issuers:
The Danish banking market is dominated by two international financial services groups: Danske Bank and Nordea Bank Denmark. However, smaller banks such as Jyske Bank, Nykredit and Sydbank also have healthy market shares.
Acquiring and Processing:
The merchant acquiring market for credit cards in Denmark is dominated by Nets, which holds an approximately 68% share of all credit card acquired transactions
Online Acquiring:
The most popular e-commerce sites in Denmark include Zalando, eBay, Amazon, Saxo, H&M, Wish and Elgiganten as well as the Nets customers (DBA, JYSK, the national lottery, Silvan and Telia).
Regulatory and Markets Information:
On 1 January 2018 regulatory measures were brought in as part of the Danish Payment Services and Electronic Money Act to restrict card surcharges above and beyond the acquiring fee.
American Express
Apple Pay
Bambora
BOKIS
Business Services
Certitrade
Concardis
COOP
DanDomain
Danish Bankers Association
Dankort
Danske Bank
Denmark
DIBS
Diners Club
DNB
Elavon
EnterCard
ePay
Eurocard
Euroline
Forenet Kredit
Gate2Payments
Google Pay
Handelsbanken
Ikano Bank
Ikano Finans
Ingenico
iZettle
JCB
Jyllands Kreditforening
Jyske Bank
Keycorp
Klarna
Kortaccept
Mastercard
MobilePay
MPS
Nets
Nordea Bank
Nordic Capital
Nordito
Nykredit
Online
OP Financial
P27
Paii
Payment
PayPal
Payson
PBS
PensoPay
Pleo
QuickPay
ReePay
Rejsekort
Samport
Samsung Pay
ScanPay
SEB
SEB Kort
Spiir
Straksclearing
Sumclearing
SumUp
Swedbank
Swedbank Card Services
Swipp
Sydbank
Teller
UnionPay
Unions
United Credit
Vipps
Visa
Visa Norge
WeShare
Verisk financial reports include detailed market and competitor intelligence on payments cards, e-money, acquiring, retail banking, and consumer credit in Europe. Analysts use primary and secondary source data and conduct in-depth interviews with senior industry executives and finance experts.
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