Financial Cards in Denmark
Euromonitor International's Financial Cards in Denmark report establishes the size and structure of the market for ATMs, credit cards, debit cards, store cards and smart cards. It looks at key players in the market (issuers and operators), number of cards in circulation, numbers transactions and value of transactions. It offers strategic analysis of sector forecasts and trends to watch.
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Tables: 103 | Publication date: Mar 2008
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- Get insight into trends in market performance
- Pinpoint growth sectors and identify factors driving change
- Identify market and brand leaders and understand the competitive environment
Product coverage
Financial cards in circulation; Transactions
Executive summary
Danes Now Comfortable Using Dankort System on Internet
Although Internet payments have been available in Denmark for a number of years, it is only since 2003 that e-commerce has really taken off in the country. The generic Danish credit card, Dankort, has reached a critical breakthrough in the number of transactions via the Internet, surpassing other credit card types such as Visa and MasterCard for the first time. The extension of the system to e-Dankort administered by PBS AS will further increase the position of Dankort Internet purchases.
800 Million Visa/Dankort Transactions in Stores in 2007
Danes really accepted the various online systems at the end of the review period, and the number of credit card transactions reached an all-time high in 2007. The main reason for the success of Dankort is the utilisation of the EMV system in Denmark – which was fully enabled on 1 January 2008. EMV is now both secure and fast enough for the average transaction, and in combination with the PIN, consumers use Dankort for a wide range of payments. As many Danish banks are now offering loyalty programmes, including subscription-free MasterCard or Visa cards, many Danish household have a credit card available. As credit cards represent the common method of payment via the Internet, online credit card transactions increased heavily in 2007.
Danish Banks Score All-time High Transaction Fees on Credit Cards
The number of financial cards has increased tremendously over the past two to three years in Denmark, reaching an all-time high in 2007. As most credit and debit cards are directly linked to a bank account, the major financial institutions benefit from the acquisition fees on all transactions, and these cards have become a prosperous revenue stream for the banking industry. However, the banks also carry transaction fee costs for the own accounts to the international credit companies.
Macro-economy Spawns Healthy Growth for Credit Card Industry
The Danish national economy is at its peak, with a major positive influence on the financial cards market, with plenty of economic and financial activity. Unemployment rates are at an all time low 3% meaning that consumers are keen to use obtain more fast-moving consumer goods, as well as luxury purchases such as travelling, clothing and long-term household improvements.
Outsourced In-store Credit Cards Gain Share on Visa and MasterCard
The number of retail outlets is somewhat steady in Denmark, but focus is shifting from independent franchises to central shopping centres and shopping-malls at a pace unseen since the 1970s. As most shopping centres carry their own shopping cards and retail chains continue to expand, financial card companies such as IKANO and others gain share in acquiring the branding of different shopping centre cards – often in combination with a MasterCard or Visa credit card. In-store credit and debit cards reached an all-time high number of registered and active cards in 2007, with an increase in share for Visa and MasterCard.
Table of contents
FINANCIAL CARDS IN DENMARK : MARKET INSIGHT
EXECUTIVE SUMMARY
Danes Now Comfortable Using Dankort System on Internet
800 Million Visa/Dankort Transactions in Stores in 2007
Danish Banks Score All-time High Transaction Fees on Credit Cards
Macro-economy Spawns Healthy Growth for Credit Card Industry
Outsourced In-store Credit Cards Gain Share on Visa and MasterCard
KEY TRENDS AND DEVELOPMENTS
New Technology Trends
Consumerism and Card Culture
An Oligopoly Market
Infrastructure Developments
High Penetration and Usage Rates
Fraud
OPERATING ENVIRONMENT
Consumer Credit and Lending
Issuer Fraud
Acquirer Fraud
E-commerce
M-commerce
ATM and POS Terminals
Cash Withdrawals vs Card Purchases
Governmental Regulation and Legislation
MARKET INDICATORS
Table 1 Number of POS Terminals 2004-2007
Table 2 Number of ATMs 2004-2007
Table 3 Disposable Income 2002-2007
Table 4 Consumer Credit 2002-2007
Table 5 Value Lost to Fraud 2002-2007
MARKET DATA
Table 6 Financial Cards: Transactions 2002-2007
Table 7 Financial Cards: Value 2002-2007
Table 8 Financial Cards: Number of Cards in Circulation 2002-2007
Table 9 Financial Cards: Number of Accounts 2002-2007
Table 10 Domestic versus Foreign Spend 2007
Table 11 Card Expenditure by Sector 2007
Table 12 Card Expenditure by Location 2007
Table 13 Financial Cards: Number of Internet Transactions 2002-2007
Table 14 Financial Cards: Internet Transaction Value 2002-2007
Table 15 Financial Cards: Number of Cards by Issuer 2002-2006
Table 16 Financial Cards: Number of Cards by Operator 2002-2006
Table 17 Financial Cards: Point of Sale Transactions by Acquirer 2002-2006
Table 18 Financial Cards Forecast: Transactions 2007-2012
Table 19 Financial Cards Forecast: Value 2007-2012
Table 20 Financial Cards Forecast: Number of Cards in Circulation 2007-2012
Table 21 Financial Cards: Forecast Number of Accounts 2007-2012
Table 22 Financial Cards Forecast: Number of Internet Transactions 2007-2012
Table 23 Financial Cards Forecast: Internet Transaction Value 2007-2012
DEFINITIONS
Cards by Type
Cardholder Behaviour
Card Expenditure by Sector
Value Lost to Card Fraud
Consumer Credit
Market Background
Sources
Summary 1 Research Sources
LOCAL COMPANY PROFILES - DENMARK
DANSKE BANK AS - FINANCIAL CARDS - DENMARK
STRATEGIC DIRECTION
KEY FACTS
Summary 2 Danske Bank: Key Facts
Summary 3 Danske Bank: Operational Indicators 2004-2006
COMPANY BACKGROUND
COMPETITIVE POSITIONING
JYSKE BANK A/S - FINANCIAL CARDS - DENMARK
STRATEGIC DIRECTION
KEY FACTS
Summary 4 Jyske Bank: Key Facts
Summary 5 Jyske Bank: Operational Indicators 2004-2006
COMPANY BACKGROUND
COMPETITIVE POSITIONING
NORDEA BANK AS - FINANCIAL CARDS - DENMARK
STRATEGIC DIRECTION
KEY FACTS
Summary 6 Nordea Bank: Key Facts
Summary 7 Nordea Bank: Operational Indicators 2004-2006
COMPANY BACKGROUND
COMPETITIVE POSITIONING
PBS A/S (PAYMENT BUSINESS SERVICES OF DENMARK) - FINANCIAL CARDS - DENMARK
STRATEGIC DIRECTION
KEY FACTS
Summary 8 PBS Holding AS: Key Facts
Summary 9 PBS Holding AS: Operational Indicators 2004-2006
COMPANY BACKGROUND
COMPETITIVE POSITIONING
SYDBANK A/S - FINANCIAL CARDS - DENMARK
STRATEGIC DIRECTION
KEY FACTS
Summary 10 Sydbank AS: Key Facts
Summary 11 Sydbank AS: Operational Indicators 2004-2006
COMPANY BACKGROUND
COMPETITIVE POSITIONING
SMART CARDS IN DENMARK
HEADLINES
TRENDS
COMPETITIVE LANDSCAPE
PROSPECTS
SECTOR DATA
Table 24 Smart Cards Sector Performance: 2002-2007
Table 25 Smart Cards Sector Performance: % Growth 2002-2007
Table 26 Smart Cards: Memory vs Microprocessor 2004-2007
Table 27 Smart Cards: Contact vs Contactless 2004-2007
Table 28 Smart Cards: Forecast Sector Performance: 2007-2012
Table 29 Smart Cards: Forecast Sector Performance: % Growth 2007-2012
ATM TRANSACTIONS IN DENMARK
HEADLINES
TRENDS
COMPETITIVE LANDSCAPE
PROSPECTS
SECTOR DATA
Table 30 ATM Cards Sector Performance: 2002-2007
Table 31 ATM Cards Sector Performance: % Growth 2002-2007
Table 32 ATM Cards: Forecast Sector Performance: 2007-2012
Table 33 ATM Cards: Forecast Sector Performance: % Growth 2007-2012
DEBIT TRANSACTIONS IN DENMARK
HEADLINES
TRENDS
COMPETITIVE LANDSCAPE
PROSPECTS
SECTOR DATA
Table 34 Debit Cards Sector Performance: 2002-2007
Table 35 Debit Cards Sector Performance: % Growth 2002-2007
Table 36 Debit Cards: Number of Cards by Issuer 2002-2006
Table 37 Debit Cards: Number of Cards by Operator 2002-2006
Table 38 Debit Cards Transactions by Acquirer 2002-2006
Table 39 Debit Cards Transaction Value by Operator 2002-2006
Table 40 Debit Cards: Forecast Sector Performance: 2007-2012
Table 41 Debit Cards: Forecast Sector Performance: % Growth 2007-2012
CREDIT CARD TRANSACTIONS IN DENMARK
HEADLINES
TRENDS
COMPETITIVE LANDSCAPE
PROSPECTS
SECTOR DATA
Table 42 Credit Cards Sector Performance: 2002-2007
Table 43 Credit Cards Sector Performance: % Growth 2002-2007
Table 44 Personal Credit Cards Sector Performance: 2002-2007
Table 45 Personal Credit Cards Sector Performance: % Growth 2002-2007
Table 46 Corporate Credit Cards: Sector Performance: 2002-2007
Table 47 Corporate Credit Cards: Sector Performance: % Growth 2002-2007
Table 48 Credit Cards Transactions by Acquirer 2002-2006
Table 49 Credit Cards Transaction Value by Operator 2002-2006
Table 50 Personal Credit Cards Transactions by Acquirer 2002-2006
Table 51 Personal Credit Cards Transaction Value by Operator 2002-2006
Table 52 Corporate Credit Cards Transactions by Acquirer 2002-2006
Table 53 Corporate Credit Cards Transaction Value by Operator 2002-2006
Table 54 Credit Cards: Forecast Sector Performance: 2007-2012
Table 55 Credit Cards: Forecast Sector Performance: % Growth 2007-2012
Table 56 Personal Credit Cards: Forecast Sector Performance: 2007-2012
Table 57 Personal Credit Cards: Forecast Sector Performance: % Growth 2007-2012
Table 58 Corporate Credit Cards: Forecast Sector Performance: 2007-2012
Table 59 Corporate Credit Cards: Forecast Sector Performance: % Growth 2007-2012
CHARGE CARD TRANSACTIONS IN DENMARK
HEADLINES
TRENDS
COMPETITIVE LANDSCAPE
PROSPECTS
SECTOR DATA
Table 60 Charge Cards Sector Performance: 2002-2007
Table 61 Charge Cards Sector Performance: % Growth 2002-2007
Table 62 Personal Charge Cards Sector Performance: 2002-2007
Table 63 Personal Charge Cards Sector Performance: % Growth 2002-2007
Table 64 Corporate Charge Cards: Sector Performance: 2002-2007
Table 65 Corporate Charge Cards: Sector Performance: % Growth 2002-2007
Table 66 Charge Cards Transactions by Acquirer 2002-2006
Table 67 Charge Cards Transaction Value by Operator 2002-2006
Table 68 Personal Charge Cards Transactions by Acquirer 2002-2006
Table 69 Personal Charge Cards Transaction Value by Operator 2002-2006
Table 70 Corporate Charge Cards Transactions by Acquirer 2002-2006
Table 71 Corporate Charge Cards Transaction Value by Operator 2002-2006
Table 72 Charge Cards: Forecast Sector Performance: 2007-2012
Table 73 Charge Cards: Forecast Sector Performance: % Growth 2007-2012
Table 74 Personal Charge Cards: Forecast Sector Performance: 2007-2012
Table 75 Personal Charge Cards: Forecast Sector Performance: % Growth 2007-2012
Table 76 Corporate Charge Cards: Forecast Sector Performance: 2007-2012
Table 77 Corporate Charge Cards: Forecast Sector Performance: % Growth 2007-2012
PRE-PAID CARD TRANSACTIONS IN DENMARK
HEADLINES
TRENDS
COMPETITIVE LANDSCAPE
PROSPECTS
SECTOR DATA
Table 78 Pre-paid Cards Sector Performance: 2002-2007
Table 79 Pre-paid Cards Sector Performance: % Growth 2002-2007
Table 80 Pre-paid Cards: Number of Cards by Issuer 2002-2006
Table 81 Pre-paid Cards: Number of Cards by Operator 2002-2006
Table 82 Pre-paid Cards Transactions by Acquirer 2002-2006
Table 83 Pre-paid Cards Transaction Value by Operator 2002-2006
Table 84 Pre-paid Cards by Type 2004-2007
Table 85 Pre-paid Cards: Forecast Sector Performance: 2007-2012
Table 86 Pre-paid Cards: Forecast Sector Performance: % Growth 2007-2012
STORE CARD TRANSACTIONS IN DENMARK
HEADLINES
TRENDS
COMPETITIVE LANDSCAPE
PROSPECTS
SECTOR DATA
Table 87 Store Cards Sector Performance: 2002-2007
Table 88 Store Cards Sector Performance: % Growth 2002-2007
Table 89 Store Cards: Number of Cards by Issuer 2002-2006
Table 90 Store Cards Transactions by Acquirer 2002-2006
Table 91 Store Cards: Forecast Sector Performance: 2007-2012
Table 92 Store Cards: Forecast Sector Performance: % Growth 2007-2012