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Payments in Denmark 2017: What Consumers Want

Published By :

GlobalData

Published Date : Dec 2017

Category :

Insurance

No. of Pages : 45 Pages

Payments in Denmark 2017: What Consumers Want

Summary

"Payments in Denmark 2017: What Consumers Want", report examines the consumer payments market in Denmark, considering payment cards, online payments, P2P payments, and newer payment technologies such as mobile wallets and contactless. The report also examines the main regulatory players overseeing the market.

The 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 210 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. With preference for mobile proximity and contactless payments gradually growing among Danish consumers there is an opportunity for providers to emphasize their advantages over traditional payment tools in order to boost interest and increase adoption.

It provides in-depth analysis of the following -
- 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 consumer attitudes towards P2P tools, mobile payment tools, and contactless cards, and how companies in Denmark are deploying these tools to meet customer needs.
- Explores the online payment market in Denmark by merchant type and payment tool, as well as providing a five-year forecast for the development of the market.

Scope

- 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).
- AThe Danish debit card market is dominated by Dankort, which accounts for 76.3% of total debit card transaction value in 2017. International scheme providers MasterCard and Visa have a small-but-growing presence in the market.
- Contactless card technology in Denmark is growing in popularity. While the user experience stands to improve once contactless-enabled terminals become more widely available, payment providers need to educate consumers on the benefits and advantages of contactless, stressing its ease of use and convenience compared to PIN-based cards.

Reasons to buy

- Understand the key facts and figures in the consumer payments market in Denmark.
- Learn what trends drive consumer behavior at the macro level and plan your strategy accordingly.
- Find out what products the major competitors are launching in the market.
- Discover consumer sentiments towards various payment tools in the Danish market and use this knowledge to inform product design.
Table of Contents
Market Overview
Megatrends
Card-based Payments
E-commerce Payments
Alternative Payments
Payments Infrastructure & Regulation
Appendix



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