Denmark Cards & Payments Sector Reviewed in Timetric Market Research Study Now Available at MarketPublishers.com11 Mar 2016 • by Natalie Aster
LONDON – Amongst the Nordic countries, Denmark boasted the greatest number of contactless terminals and had the 2nd-largest volume of contactless cards in use, coming second only to Norway, as of November 2015. In order to capitalise on the surging popularity of contactless technology, Jyske Bank and Danske Bank started to offer contactless Dankort cards as per August 2015. Contactless mobile payments are also growing in popularity. Verifone inked an agreement with the mobile payments provider Swipp in November 2015, to allow 30,000 partner merchants to accept Swipp app as a payment method.
Denmark is gradually turning into a cashless society backed by the government’s set of polices and a soaring consumer leaning towards electronic payments. Within this framework, the Danish government put forward a plan in May 2015 to allow specific categories of retailers like apparel stores, restaurants and gas stations to refuse cash payments. Retailers like grocery shops and drug stores are exempt. The proposed plan is expected to be implemented in 2016.
In an effort to prevent the country from falling into deflation, Denmark’s central bank, Danmarks Nationalbank, reduced its deposit rate to the lowest (-0.75%) as of 2015. Danske Bank started to charge customers to deposit cash to enforce consumers to spend, and ease deflationary pressures. The resulting hike in consumer expenditure will likely give a boost to both the credit and debit card markets through to 2019.
Comprehensive market research report “The Cards and Payments Industry in Denmark: Emerging Trends and Opportunities to 2019” created by Timetric covers the Danish cards and payments industry. It provides current (for 2014) and forecast values (to 2019) for each market in the industry; looks at the various payment instruments along with reviewing the country's major alternative payment instruments; examines the electronic commerce market and covers the types of online payments; casts light on the various economic, demographic, business and infrastructural drivers influencing the country’s cards and payments industry; takes a look at the current regulations governing the industry; offers details about a number of marketing strategies utilised by different banks and other institutions to market credit and debit cards; presents an all-round analysis of consumer attitudes as well as buying habits and preferences for cards. The research publication canvasses the competitive landscape of the Danish cards and payments industry and provides company profiles of the leading banks operating in the industry in question.
The Cards and Payments Industry in Denmark: Emerging Trends and Opportunities to 2019
Published: February, 2016
Price: US$ 3,995.00
Other studies by this publisher can be found at Timetric page.