Payments in Denmark 2017: What Consumers Want

LONDON, Dec. 18, 2017 /PRNewswire/ — Payments in Denmark 2017: What Consumers Want

Danish cards and payments industry is well-developed, and its consumers are prolific users of payment cards. The country has the highest frequency of use in the world, with over 200 transactions per card in 2017. As cash use continues to decline, Denmark is increasing its efforts to become a cashless society, backed by government support promoting electronic payments. Danish consumers are very comfortable with payment cards and mobile phones, with Dankort the most commonly used card scheme in the country and MobilePay leading the way in the peer-to-peer (P2P) payment space.Download the full report: E-commerce posted a review-period compound annual growth rate (CAGR) of over 15% to reach over DKK115bn (about US$16.3bn) in 2017. According to PostNord’s E-Commerce in the Nordics report, Denmark has the third-highest percentage of online shoppers in the Nordic region, with over 60% of consumers shopping online at least once a month in 2016. Payment cards and bank transfers remain the preferred payment methods, accounting for about 75% of e-commerce transaction value in 2017. Digital and mobile wallets account for nearly 20%.

Contactless payments are gradually growing in Denmark. The first contactless Dankort was launched in Denmark in 2015. By the end of 2016, more than half of all issued Dankort cards had the contactless feature, and contactless payments accounted for more than 15% of all Dankort payments according to the central bank. Payment providers need to educate consumers on the benefits and advantages of contactless payments, stressing the technology’s ease of use and convenience compared to PIN-based cards.

The report “Payments in Denmark 2017: What Consumers Want”, examines the consumer payments market in Denmark, considering payment cards, online payments, P2P payments, and newer payment technologies such as mobile wallets and contactless.

Specifically, this report –

– Analyzes consumer attitudes to financial services by lifestage.

– Analyzes the major payment card types in terms of both card holding and usage.

– Identifies the major competitors in card issuing and how their position in the market has changed over the last five years.

– Considers cons…

read more

Other POS news:

  1. Divido and Digital River to Help Ecommerce Brands Increase Revenue through Retail Finance
  2. Arizona’s Tucson Federal Credit Union Drives Transformed Branch Experience
  3. Can You Accept Global Payment Standards?
  4. EnterWorks Reinvigorates Stores by Enabling a New Digital Retail Reality
  5. Retailers Applaud NLRB’s Decision to Rescind Micro-Unions
  6. Retail Store Tours to Launch at ​#​NRF18: Retail’s Big Show
  7. UnionPay International expanding QR code to encourage the use of the Mobile QuickPass APP
  8. Retailers Positioned to Benefit as Banks Open Their Networks with New European Regulations
  9. Edge Mobile Payments Acquires Plastc
  10. Nets and OpenWay Collaborate on Monetization of PSD2 and Open Banking
  11. STUDY: 32% of Shoppers Looking for Better InStore Customer Service During Holiday Shopping