Denmark Cards and Payments – Opportunities and Risks to 2027
Powered by
All the vital news, analysis, and commentary curated by our industry experts.
Denmark Cards and Payments Market Report Overview
The annual value of card transactions in the Denmark cards and payments market was $109.81 billion in 2023 and will grow at a CAGR of more than 4% during 2023-2027. Rising inflation, unemployment, and ongoing geopolitical uncertainty harmed the cards and payments sector. However, gradual growth in consumer expenditure and purchasing power will drive the sector growth during the forecast period.
Denmark Card Transactions Outlook, 2023-2027 ($ Billion)
Buy the Full Report for More Information on the Denmark Cards and Payments Market Forecast Download a Free Sample Report
The Denmark cards and payments market research report provides a detailed analysis of market trends influencing the industry. It provides transaction values and volumes for several payment instruments for the review period. In addition, the Denmark cards and payments market analysis offers information on the country’s competitive landscape, including market shares of issuers and schemes. The report also entails regulatory policy details and provides extensive coverage of any recent changes in the regulatory structure.
Annual Card Transactions Value (2023) | $109.81 billion |
CAGR (2023-2027) | >4% |
Forecast Period | 2023-2027 |
Historical Period | 2019-2022 |
Key Payment Instruments | · Cards
· Credit Transfers · Cash · Direct Debits |
Key Segments | · Card-Based Payments
· E-commerce Payments · In-store Payments · Buy Now Pay Later · Mobile Payments |
Leading Players | · Nexi
· Worldline · Sweedbank · AltaPay · Nets |
Enquire & Decide | Discover the perfect solution for your business needs. Enquire now and let us help you make an informed decision before making a purchase. |
Denmark Cards and Payments Market Dynamics
Debit cards were the preferred card type for payments in 2023e. Rising economic uncertainty and high inflation have led to increasing spending by consumers within their means rather than relying on credit. While the payment market was dominated by cards, mobile payments are also gaining popularity as the likes of MobilePay, Apple Pay, and others are increasingly being used for online purchases.
Meanwhile, contactless card awareness and usage have both been on the rise in Denmark and are likely to grow further as more contactless cards are issued and merchants increasingly adopt contactless POS terminals.
Buy the Full Report to Get Additional Denmark Cards and Payments Market Dynamics
Denmark Cards and Payments Market Segmentation by Payment Instruments
Cards had the highest share of payment transaction volume in 2023
The key payment instruments in the Denmark cards and payments market are cards, credit transfers, cash, and direct debits. Card usage has been on the rise attributed to the convenience of electronic payments, robust payment infrastructure, the increasing preference for contactless payments, and e-commerce market growth.
Denmark Cards and Payments Market Analysis by Payment Instruments (Volume), 2023 (%)
Buy the Full Report for More Payment Instrument Insights into the Denmark Cards and Payments Market
Denmark Cards and Payments Market Segments
The key segments in the Denmark cards and payments market are card-based payments, e-commerce payments. in-store payments, buy now pay later, mobile payments among others.
Card-Based Payments: Denmark has a highly developed payment card market with a card penetration of nearly two cards per individual. This is supported by a high level of awareness of electronic payments, a 100% banked population, and a well-developed payment acceptance infrastructure.
Consumers in Denmark are prolific users of payment cards because of the growing adoption of contactless payments. The proliferation of digital-only banks and alternative payment solutions as well as the growing ecommerce market will drive payment card market growth during the forecast period.
Buy the Full Report for More Market Segment Insights into the Denmark Cards and Payments Market
Denmark Cards and Payments Market - Competitive Landscape
A few of the leading players in the Denmark cards and payments market are Nexi, Worldline, Sweedbank, AltaPay, and Nets among others.
Denmark Cards and Payments Market Analysis by Players, 2023
Buy the Full Report to Know More about the Players in the Denmark Cards and Payments Market Download a Free Sample Report
Key Developments
- In May 2023, German automobile manufacturer Mercedes-Benz launched the Mercedes Pay solution in Denmark. It enables customers to use their vehicles to book and pay for off-street parking.
- In January 2022, UK-based Revolut launched its banking operations in 10 European countries (including Denmark). Account holders receive a debit card that can be used for cash withdrawals and payments.
Segments Covered in the Report
Denmark Cards and Payments Instruments Outlook (Value, $ Billion, 2019-2027)
- Cards
- Credit Transfers
- Cash
- Direct Debits
Denmark Cards and Payments Market Segments Outlook (Value, $ Billion, 2019-2027)
- Card-Based Payments
- E-commerce Payments
- In-store Payments
- Buy Now Pay Later
- Mobile Payments
Scope
Contactless card usage is expanding for public transport payments. In November 2022, Danish railway operator Danske Statsbaner introduced the softPOS solution developed by payment solution providers Softpay.io and Nets. As a result, travelers can now pay for fares by making contactless payments on softPOS-enabled mobile devices carried by train conductors.
The growing popularity of digital-only banks is driving competition in the banking space, thus boosting debit card holding. For example, UK-based Revolut operates in Denmark, offering Standard, Plus, Premium, Metal, and Ultra accounts along with a debit card. The company also offers the <18 bank account for teens, which includes a Revolut debit card. Through the app, the customer’s parents or guardians can keep track of their child’s spending and saving habits.
Online shopping events such as Black Friday and Cyber Monday have supported the growth of ecommerce in Denmark. For example, Zalando offers discounts of up to 50% on various product categories during the annual Black Friday event, thus boosting ecommerce sales volumes. To benefit from the growing ecommerce market, in February 2021, Zalando expanded its pre-owned online store Zircle to Denmark, allowing consumers to buy pre-owned fashion products. Meanwhile, new retailers are entering the Danish ecommerce space to capitalize on its growth. In March 2023, Netherlands-based clothing retailer C&A expanded its presence to 11 countries, including Denmark.
Reasons to Buy
- Make strategic business decisions, using top-level historical and forecast market data, related to the Denmark cards and payments industry and each market within it.
- Understand the key market trends and growth opportunities in Denmark’s cards and payments industry.
- Assess the competitive dynamics in the Denmark cards and payments industry.
- Gain insights into marketing strategies used for various card types in Denmark.
- Gain insights into key regulations governing Denmark’s cards and payments industry.
Nordea
Jyske Bank
Sydbank
Arbejdernes Landsbank
Nykredit
Dankort
Mastercard
Visa
Table of Contents
Frequently asked questions
-
What was the annual value of card transactions in the Denmark cards and payments market in 2023?
The annual value of card transactions in the Denmark cards and payments market was $109.81 billion in 2023.
-
What will the Denmark cards market growth rate be during the forecast period?
The Denmark annual cards market value is expected to grow at a CAGR of more than 4% during the forecast period.
-
Which was the leading payment instrument in the Denmark cards and payments market in 2023?
Cards was the leading payment instrument in terms of transaction volume in the Denmark cards and payments market in 2023.
-
Which are the leading players in the Denmark cards and payments market?
A few of the leading players in the Denmark cards and payments market are Nexi, Worldline, Sweedbank, AltaPay, and Nets among others.
Get in touch to find out about multi-purchase discounts
reportstore@globaldata.com
Tel +44 20 7947 2745
Every customer’s requirement is unique. With over 220,000 construction projects tracked, we can create a tailored dataset for you based on the types of projects you are looking for. Please get in touch with your specific requirements and we can send you a quote.