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Emerging Opportunities in Denmarks Cards and Payments Industry: Market Size, Trends and Drivers, Strategies, Products and Competitive Landscape

Published By :

Timetric

Published Date : May 2013

Category :

Banking

No. of Pages : 74 Pages

Synopsis

The report provides market analysis, information and insights into Denmark’s cards and payments market, including:

  • Current and forecast values for each category of Denmark’s cards and payments industry including debit cards, credit cards, prepaid cards and charge cards
  • Comprehensive analysis of the industry’s market attractiveness and future growth areas
  • Analysis of various market drivers and regulations governing Denmark’s cards and payments industry
  • Detailed analysis of the marketing strategies adopted for selling debit, credit, charge and prepaid cards used by various bankers and other institutions in the market
  • Comprehensive analysis of consumer attitudes and their buying preferences for cards
  • Competitive landscape of Denmark’s cards and payments industry

Executive summary

The Danish cards and payments industry is one of the most well-developed and highly regulated in the world. The cards and payments industry in Denmark has its roots in the 1960s, when Danish banks were among the first in the world to develop and invest in electronic payment services. In 1983, Danish company PBS A/S introduced the country’s national debit card, the Dankort, and since then, the entire payment preferences of consumers have shifted from cash and check payments to the Dankort. Despite growing competition from international payment cards, Dankort and its co-badged solutions still dominate the Danish cards and payments industry. 

The total number of cards issued in Denmark rose from 10.8 million in 2008 to 12.7 million in 2012, at a CAGR of 4.31% during the review period. Over the forecast period, the prepaid cards category is expected to record a CAGR of 2.36% and will hold a significant share in the industry. The debit card category registered a CAGR of 5.25% during the review period, growing from 5.1 million cards in 2008 to 6.2 million in 2012. Overall, the number of cards across all categories is expected to grow at a CAGR of 1.43% over the forecast period, rising from 13.0 million in 2013 to 13.7 million in 2017.

Scope

  • This report provides a comprehensive analysis of Denmark’s cards and payments industry
  • It provides current values for Denmark’s cards and payments industry for 2012 and forecast figures for 2017
  • It details the different macroeconomic, infrastructural, consumer and business drivers affecting Denmark’s cards and payments industry
  • It outlines the current regulatory framework in the industry
  • It details the marketing strategies used by various bankers and other institutions
  • It profiles the major banks in Denmark’s cards and payments industry

Key highlights

  • The total number of cards in Denmark rose from 10.8 million in 2008 to 12.7 million in 2012, at a CAGR of 4.31% during the review period. The total number of cards in circulation over the forecast period is expected to grow at a CAGR of 1.43%, from 13.0 million in 2013 to 13.7 million in 2017.
  • Strongly regulated frameworks and a well-organized settlement system give the Danish cards and payments industry an edge over other economies. The National Bank of Denmark, along with the Danish Competition and Consumer Authority (DCCA), guide the Minister for Economic and Business Affairs in regulating the industry.
  • The Danish cards and payments industry is among the world’s most developed markets. This is primarily due to the consumer preference for cards as a payment option. The broad range of cards available can be used by consumers for basic payments such as mobile recharges, gifts, retail shopping, petrol payments, travel expenses, payroll and insurance cover. The Danish cards and payments industry was worth DKK332.6 billion (US$57.5 billion) at the end of financial year 2012.
  • E-commerce in Denmark grew during the review period, from DKK11.1 billion (US$2.2 billion) in 2008 to DKK20.1 billion (US$3.5 billion) in 2012, at a CAGR of 16.04%. This was largely due to growing internet penetration and high online sales in the country. E-commerce is expected to record a CAGR of 12.80% over the forecast period.

Reasons to buy

  • Make strategic business decisions using historic and forecast market data related to Denmark’s cards and payments industry and each market within it
  • Understand the key market trends and growth opportunities within Denmark’s cards and payments industry
  • Assess the competitive dynamics in Denmark’s cards and payments industry
  • Gain insights into the marketing strategies used for selling various types of cards in Denmark
  • Gain insights into key regulations governing Denmark’s cards and payments industry
Table of contents

1 Executive Summary

2 Industry Attractiveness and Future Prospects of Cards and Payments Industry

3 Analysis of Danish Cards and Payments Industry Drivers
3.1 Economic Fundamentals
3.1.1 GDP and per capita income
3.1.2 Inflation
3.1.3 Bank interest rates
3.2 Infrastructure Drivers
3.2.1 Growing number of POS terminals
3.2.2 Rising number of internet users
3.2.3 Rising mobile users
3.3 Business Drivers
3.3.1 E-commerce
3.3.2 M-commerce
3.3.3 Retail sales
3.4 Other Growth Drivers
3.4.1 Urban and rural populations
3.4.2 Falling unemployment
3.4.3 Travel and tourism industry
3.5 Card Fraud Statistics
3.6 Regulatory Framework
3.6.1 New rules for calculating regular and surcharge fees on physical trades
3.6.2 Fee rules for use of payment cards in non-physical trades
3.6.3 SEPA cards framework

4 Emerging Consumer Attitudes and Trends
4.1 Market Segmentation and Targeting
4.1.1 Retail users
4.1.2 Corporate users
4.2 Consumer Preference
4.2.1 Price
4.2.2 Convenience
4.2.3 Services
4.2.4 Security
4.3 Online Buying Behavior
4.4 Preferred Payment Methods

5 Competitive Landscape and Industry Dynamics
5.1 Industry Share Analysis by Payment Channel
5.1.1 Credit transfers
5.1.2 Direct debits
5.1.3 Card payments
5.1.4 Check payments
5.2 Debit Cards Category share
5.2.1 By bank
5.2.2 By scheme
5.3 Credit Cards Category Share
5.3.1 By bank
5.3.2 By scheme

6 Strategies Adopted by Key Operators
6.1 Market Entry Strategy
6.2 Marketing and Product Strategies
6.2.1 Debit cards
6.2.2 Prepaid cards
6.2.3 Credit cards
6.3 Pricing Strategies

7 Size and Growth Potential of the Payment Cards Industry
7.1 Industry Share Analysis by Type of Card
7.2 Total Industry Size and Forecast of Cards Industry
7.2.1 Analysis by number of cards
7.2.2 Analysis by transaction value
7.2.3 Analysis by transaction volume
7.3 Debit Card Category Size and Forecast
7.3.1 Analysis by number of cards
7.3.2 Analysis by transaction value
7.3.3 Analysis by transaction volume
7.3.4 Other key performance indicators
7.4 Prepaid Card Category Size and Forecast
7.4.1 Analysis by number of cards
7.4.2 Analysis by segment – open and closed-loop cards
7.4.3 Analysis by transaction value
7.5 Credit Card Category Size and Forecast
7.5.1 Analysis by number of cards
7.5.2 Analysis by transaction value
7.5.3 Analysis by transaction volume
7.5.4 Other key performance indicators

8 Company Profiles, Products and Marketing Strategies
8.1 Nordea Bank Denmark
8.1.1 Strategies
8.1.2 Card products offerings and their features
8.2 Danske Bank
8.2.1 Strategies
8.2.2 Card product offerings and their features
8.3 Sydbank
8.3.1 Strategies
8.3.2 Card product offerings and their features

9 Appendix
9.1 Methodology
9.2 Contact Us
9.3 About Timetric
9.4 Disclaimer

List of Table


Table 1: Danish Payment Channels (DKK Million), 2008 and 2012
Table 2: Danish Cards Industry by Card Category (Thousands), 2008–2017
Table 3: Danish Cards Industry Size by Number of Cards (Thousands), 2008–2017
Table 4: Danish Cards Industry Size by Transaction Value (DKK Million), 2008–2017
Table 5: Danish Cards Industry Size by Transaction Value (US$ Million), 2008–2017
Table 6: Danish Cards Industry Size by Number of Transactions (Million), 2008–2017
Table 7: Danish Debit Card Category Size by Number of Cards (Thousands), 2008–2017
Table 8: Danish Debit Card Category Size by Transaction Value (DKK Million), 2008–2017
Table 9: Danish Debit Card Category Size by Transaction Value (US$ Million), 2008–2017
Table 10: Danish Debit Card Category Size by Transaction Volume (Million), 2008–2017
Table 11: Danish Debit Card Category by Frequency of Use, 2008–2017
Table 12: Danish Prepaid Card Category Size by Number of Cards (Thousands), 2008–2017
Table 13: Danish Open-Loop Prepaid Cards Segment Size (Thousands), 2008–2017
Table 14: Danish Closed-Loop Prepaid Cards Segment Size (Thousands), 2008–2017
Table 15: Danish Prepaid Cards Category Size by Transaction Value (DKK Million), 2008–2017
Table 16: Danish Prepaid Cards Category Size by Transaction Value (US$ Million), 2008–2017
Table 17: Danish Credit Card Category Size by Number of Cards (Thousands), 2008–2017
Table 18: Danish Credit Card Category Size by Transaction Value (DKK Million), 2008–2017
Table 19: Danish Credit Card Category Size by Transaction Value (US$ Million), 2008–2017
Table 20: Danish Credit Card Category Size by Transaction Volume (Million), 2008–2017
Table 21: Danish Credit Card Category Size by Frequency of Use, 2008–2017
Table 22: Danish Credit Card Category Size by Average Transaction Value (DKK), 2008–2017
Table 23: Danish Credit Card Category Size by Average Transaction Value (US$), 2008–2017

List of Chart


Figure 1: Denmark – Growth of Various Card Categories (%), 2008–2017
Figure 2: Growth Potential of Denmark’s Card Payments Industry by Area of Use
Figure 3: Danish Cards and Payments Industry Drivers
Figure 4: Danish GDP Growth (%), 2008–2017
Figure 5: Danish Per Capita Income (DKK), 2008–2017
Figure 6: Danish Inflation Rate (%), 2008–2017
Figure 7: Danish Lending and Deposit Rates (%), 2008–2012
Figure 8: Number of POS Terminals in Denmark (Thousands), 2008–2017
Figure 9: Number of ATMs in Denmark (Thousands), 2008–2017
Figure 10: Number of Internet Users in Denmark (Million), 2008–2012
Figure 11: Mobile Users in Denmark (Million) 2008–2012
Figure 12: E-Commerce in Denmark (DKK Million), 2008–2017
Figure 13: Danish M-Payments (DKK Million), 2008–2017
Figure 14: Retail Sales in Denmark (DKK Million), 2007–2016
Figure 15: Urban and Rural Populations in Denmark (Million), 2008–2017
Figure 16: Unemployment in Denmark (%), 2008–2017
Figure 17: Total Outbound Tourists from Denmark (%), 2008–2011
Figure 18: Danish Card Fraud Statistics (DKK Million), 2008–2017
Figure 19: Segmentation and Target Markets for Danish Payment Cards
Figure 20: Danish Cards for Retail Customers
Figure 21: Danish Payment Cards for Corporate Customers
Figure 22: Consumer Preferences on Various Types of Card
Figure 23: Online Payment Options in Denmark (%)
Figure 24: Shares of Different Payment Channels in Denmark (%), 2008 and 2012
Figure 25: Danish Credit Transfer Values (DKK Million), 2008–2012
Figure 26: Danish Direct Debit Values (DKK Million), 2008–2012
Figure 27: Danish Card Payments Values (DKK Million), 2008–2012
Figure 28: Value of Danish Check Payments (DKK Million), 2008–2012
Figure 29: Danish Debit Card Category Shares by Bank (%), 2011
Figure 30: Danish Debit Card Category Shares by Scheme (%), 2011
Figure 31: Danish Credit Card Category Shares by Bank (%), 2011
Figure 32: Danish Credit Card Category Shares by Scheme (%), 2011
Figure 33: Common Cards Offered in Denmark
Figure 34: Price Comparison for Retail Customers
Figure 35: Price Comparison for Corporate Customers
Figure 36: Danish Cards Industry by Card Category (%), 2008–2017
Figure 37: Danish Cards Industry Size by Number of Cards (Thousands), 2008–2017
Figure 38: Danish Cards Industry Size by Transaction Value (DKK Million), 2008–2017
Figure 39: Danish Cards Industry Size by Transaction Volume (Million), 2008–2017
Figure 40: Danish Debit Card Category Size by Number of Cards (Thousands), 2008–2017
Figure 41: Danish Debit Card Category Size by Transaction Value (DKK Million), 2008–2017
Figure 42: Danish Debit Card Category Size by Transaction Volume (Million), 2008–2017
Figure 43: Danish Debit Card Category by Frequency of Use, 2008–2017
Figure 44: Debit Card Use at ATMs and POS Terminals (Millions), 2008–2017
Figure 45: Danish Prepaid Card Category Size by Number of Cards (Thousands), 2008–2017
Figure 46: Danish Open-Loop Prepaid Cards Segment Size (Thousands), 2008–2017
Figure 47: Danish Closed-Loop Prepaid Cards Segment Size (Thousands), 2008–2017
Figure 48: Danish Prepaid Cards Category Size by Transaction Value (DKK Million), 2008–2017
Figure 49: Danish Credit Card Category Size by Number of Cards (Thousands), 2008–2017
Figure 50: Danish Credit Card Category Size by Transaction Value (DKK Million), 2008–2017
Figure 51: Danish Credit Card Category Size by Transaction Volume (Million), 2008–2017
Figure 52: Danish Credit Card Category Size by Frequency of Use, 2008–2017
Figure 53: Danish Credit Card Category Size by Average Transaction Value (DKK), 2008–2017
Figure 54: Nordea Denmark – Market Segmentation of Cards Offered
Figure 55: Danske Bank – Key Product Portfolio
Figure 56: Danske Bank – Market Segmentation of Cards Offered (Personal)
Figure 57: Danske Bank – Market Segmentation of Cards Offered (Business)
Figure 58: Sydbank – Market Segmentation of Cards Offered

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