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Country Report

Financial Cards and Payments in

Financial Cards and Payments in Denmark

Nov 2020

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Executive Summary

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COVID-19 impact on consumer payments

Overall consumer expenditure in Denmark has been negatively impacted by the COVID-19 outbreak and consequent widespread decline in demand for services, tourism and foodservice throughout the country. Consumer payments were already shifting away from cash before the pandemic, in line with ongoing technological development and rising demand for convenience.

COVID-19 country impact

On 14 March, the Danish Government closed the country’s borders and imposed public transport restrictions, including compulsory seat reservations for long distance and regional trains, with passenger capacity falling by 80%. On 18 March, the authorities closed shopping centres, other than for access to pharmacies and grocery retailers.

Government stimulus packages off-set impact on consumer spending

The COVID-19 pandemic and comprehensive lockdown measures resulted in plummeting consumer confidence, with the Danish economy contracting significantly. In response, the government launched a number of financial support programmes to minimise the financial impact on both businesses and consumers.

Leading debit card operators dominate but experiencing growing competition

Debit cards remain by far the most popular financial card payment format in Denmark. Nevertheless, leading players Danske Bank, Nordea Bank and Sydbank are struggling to maintain market share in terms of both transactions and cards in circulation as a result of the impact of growing competition from the increasing number of smaller players entering the category.

What next for consumer payments?

The shift away from cash will continue to accelerate in Denmark over the forecast period, with debit cards expected to benefit most of all from this trend. Consequently, as the economy recovers from the impact of COVID-19 and life gradually returns to normal, financial cards is expected to post continued and stable growth over the forecast period at the expense of cash payments in terms of number of cards, transactions and total value.

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Overview

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Gain competitive intelligence about market leaders. Track key industry trends, opportunities and threats. Inform your marketing, brand, strategy and market development, sales and supply functions.

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Overview

Discover the latest market trends and uncover sources of future market growth for the Financial Cards and Payments industry in Denmark with research from Euromonitor's team of in-country analysts.

Find hidden opportunities in the most current research data available, understand competitive threats with our detailed market analysis, and plan your corporate strategy with our expert qualitative analysis and growth projections.

If you're in the Financial Cards and Payments industry in Denmark, our research will save you time and money while empowering you to make informed, profitable decisions.

The Financial Cards and Payments in Denmark market research report includes:

Analysis of key supply-side and demand trends
Historic volumes and values, company and brand market shares
Five year forecasts of market trends and market growth
Robust and transparent market research methodology, conducted in-country

Our market research reports answer questions such as:

What is the market size of Financial Cards and Payments in Denmark?
What are the major operators and issuers in Denmark?
How will regulation impact the market?
What is the current state of emerging payment technologies such as mobile commerce?

Why buy this report?

Gain competitive intelligence about market leaders
Track key industry trends, opportunities and threats
Inform your marketing, brand, strategy and market development, sales and supply functions

Euromonitor’s industry reports, including Financial Cards and Payments in Denmark, originate from our database within our Consumer Finance market share and market size database, Passport, a platform which analyses Consumer Finance in 46 countries and globally.

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Financial Cards and Payments in Denmark - Industry Overview

EXECUTIVE SUMMARY

COVID-19 impact on consumer payments

COVID-19 country impact

Government stimulus packages off-set impact on consumer spending

Leading debit card operators dominate but experiencing growing competition

What next for consumer payments?

MARKET INDICATORS

Table 1 Number of POS Terminals: Units 2015-2020
Table 2 Number of ATMs: Units 2015-2020
Table 3 Value Lost to Fraud 2015-2020
Table 4 Card Expenditure by Location 2020
Table 5 Financial Cards in Circulation by Type: % Number of Cards 2015-2020
Table 6 Domestic versus Foreign Spend 2020

MARKET DATA

Table 7 Financial Cards by Category: Number of Cards in Circulation 2015-2020
Table 8 Financial Cards by Category: Number of Accounts 2015-2020
Table 9 Financial Cards Transactions by Category: Value 2015-2020
Table 10 Financial Cards by Category: Number of Transactions 2015-2020
Table 11 Consumer Payments by Category: Value 2015-2020
Table 12 Consumer Payments by Category: Number of Transactions 2015-2020
Table 13 M-Commerce by Category: Value 2015-2020
Table 14 M-Commerce by Category: % Value Growth 2015-2020
Table 15 Financial Cards: Number of Cards by Issuer 2015-2019
Table 16 Financial Cards: Number of Cards by Operator 2015-2019
Table 17 Financial Cards: Card Payment Transactions Value by Operator 2015-2019
Table 18 Financial Cards: Card Payment Transactions Value by Issuer 2015-2019
Table 19 Forecast Financial Cards by Category: Number of Cards in Circulation 2020-2025
Table 20 Forecast Financial Cards by Category: Number of Accounts 2020-2025
Table 21 Forecast Financial Cards Transactions by Category: Value 2020-2025
Table 22 Forecast Financial Cards by Category: Number of Transactions 2020-2025
Table 23 Forecast Consumer Payments by Category: Value 2020-2025
Table 24 Forecast Consumer Payments by Category: Number of Transactions 2020-2025
Table 25 Forecast M-Commerce by Category: Value 2020-2025
Table 26 Forecast M-Commerce by Category: % Value Growth 2020-2025

DISCLAIMER

GLOBAL MACROECONOMIC ENVIRONMENT

GLOBAL INDUSTRY ENVIRONMENT

SOURCES

Summary 1 Research Sources

Charge Cards in Denmark - Category analysis

2020 IMPACT

Credit Cards in Denmark - Category analysis

KEY DATA FINDINGS

2020 IMPACT

Massive rise in e-commerce fuels credit card transactions throughout Denmark

Growing popularity of mobile e-commerce represents threat to growth

Leading credit card brands continue to lose sales share to smaller issuers

RECOVERY AND OPPORTUNITIES

Leading brands invest in raising awareness of benefits of credit cards

Competition fuels interest in cobranding and Fintech partnerships

Focus on offering rewards and benefits in order to attract consumers

CATEGORY DATA

Table 27 Credit Cards: Number of Cards in Circulation 2015-2020
Table 28 Credit Cards Transactions 2015-2020
Table 29 Credit Cards in Circulation: % Growth 2015-2020
Table 30 Credit Cards Transactions: % Growth 2015-2020
Table 31 Commercial Credit Cards: Number of Cards in Circulation 2015-2020
Table 32 Commercial Credit Cards Transactions 2015-2020
Table 33 Commercial Credit Cards in Circulation: % Growth 2015-2020
Table 34 Commercial Credit Cards Transactions: % Growth 2015-2020
Table 35 Personal Credit Cards: Number of Cards in Circulation 2015-2020
Table 36 Personal Credit Cards Transactions 2015-2020
Table 37 Personal Credit Cards in Circulation: % Growth 2015-2020
Table 38 Personal Credit Cards Transactions: % Growth 2015-2020
Table 39 Credit Cards: Number of Cards by Issuer 2015-2019
Table 40 Credit Cards: Number of Cards by Operator 2015-2019
Table 41 Credit Cards Payment Transaction Value by Issuer 2015-2019
Table 42 Credit Cards Payment Transaction Value by Operator 2015-2019
Table 43 Commercial Credit Cards: Number of Cards by Issuer 2015-2019
Table 44 Commercial Credit Cards: Number of Cards by Operator 2015-2019
Table 45 Commercial Credit Cards Payment Transaction Value by Issuer 2015-2019
Table 46 Commercial Credit Cards Payment Transaction Value by Operator 2015-2019
Table 47 Personal Credit Cards: Number of Cards by Issuer 2015-2019
Table 48 Personal Credit Cards: Number of Cards by Operator 2015-2019
Table 49 Personal Credit Cards Payment Transaction Value by Issuer 2015-2019
Table 50 Personal Credit Cards Payment Transaction Value by Operator 2015-2019
Table 51 Forecast Credit Cards: Number of Cards in Circulation 2020-2025
Table 52 Forecast Credit Cards Transactions 2020-2025
Table 53 Forecast Credit Cards in Circulation: % Growth 2020-2025
Table 54 Forecast Credit Cards Transactions: % Growth 2020-2025
Table 55 Forecast Commercial Credit Cards: Number of Cards in Circulation 2020-2025
Table 56 Forecast Commercial Credit Cards Transactions 2020-2025
Table 57 Forecast Commercial Credit Cards in Circulation: % Growth 2020-2025
Table 58 Forecast Commercial Credit Cards Transactions: % Growth 2020-2025
Table 59 Forecast Personal Credit Cards: Number of Cards in Circulation 2020-2025
Table 60 Forecast Personal Credit Cards Transactions 2020-2025
Table 61 Forecast Personal Credit Cards in Circulation: % Growth 2020-2025
Table 62 Forecast Personal Credit Cards Transactions: % Growth 2020-2025

Debit Cards in Denmark - Category analysis

KEY DATA FINDINGS

2020 IMPACT

Shift towards debit cards further boosted by COVID-19 lockdown measures

Younger Danes especially comfortable with card payments

Leading brands experiencing growing competition from new smaller players

RECOVERY AND OPPORTUNITIES

Transition to card payments to continue even after recovery from COVID-19

Smaller players gaining sales share at expense of Dankort national debit card

Consumers increasingly demanding convenience and security

CATEGORY DATA

Table 63 Debit Cards: Number of Cards in Circulation 2015-2020
Table 64 Debit Cards Transactions 2015-2020
Table 65 Debit Cards in Circulation: % Growth 2015-2020
Table 66 Debit Cards Transactions: % Growth 2015-2020
Table 67 Debit Cards: Number of Cards by Issuer 2015-2019
Table 68 Debit Cards: Number of Cards by Operator 2015-2019
Table 69 Debit Cards Payment Transaction Value by Issuer 2015-2019
Table 70 Debit Cards Payment Transaction Value by Operator 2015-2019
Table 71 Forecast Debit Cards: Number of Cards in Circulation 2020-2025
Table 72 Forecast Debit Cards Transactions 2020-2025
Table 73 Forecast Debit Cards in Circulation: % Growth 2020-2025
Table 74 Forecast Debit Cards Transactions: % Growth 2020-2025

Pre-Paid Cards in Denmark - Category analysis

KEY DATA FINDINGS

2020 IMPACT

Major reduction in travel due to COVID-19 negatively impacts pre-paid card usage

Closed-loop card transactions supported by widespread use for transport

Rejsekort remains highly popular among convenience seeking consumers

RECOVERY AND OPPORTUNITIES

Widespread use of national travel card ensures positive outlook

Growing concerns over possibility of fraud with pre-paid cards

Innovation and first-mover advantage key to success with open loop pre-paid cards

CATEGORY DATA

Table 75 Pre-paid Cards: Number of Cards in Circulation 2015-2020
Table 76 Pre-paid Cards Transactions 2015-2020
Table 77 Pre-paid Cards in Circulation: % Growth 2015-2020
Table 78 Pre-paid Cards Transactions: % Growth 2015-2020
Table 79 Closed Loop Pre-paid Cards Transactions 2015-2020
Table 80 Closed Loop Pre-paid Cards Transactions: % Growth 2015-2020
Table 81 Open Loop Pre-paid Cards Transactions 2015-2020
Table 82 Open Loop Pre-paid Cards Transactions: % Growth 2016-2019
Table 83 Pre-paid Cards: Number of Cards by Issuer 2015-2019
Table 84 Pre-paid Cards: Number of Cards by Operator 2015-2019
Table 85 Pre-paid Cards Transaction Value by Issuer 2015-2019
Table 86 Pre-paid Cards Transaction Value by Operator 2015-2019
Table 87 Closed Loop Pre-paid Cards: Number of Cards by Issuer 2015-2019
Table 88 Closed Loop Pre-paid Cards: Number of Cards by Operator 2015-2019
Table 89 Closed Loop Pre-paid Cards Transaction Value by Issuer 2015-2019
Table 90 Closed Loop Pre-paid Cards Transaction Value by Operator 2015-2019
Table 91 Open Loop Pre-paid Cards: Number of Cards by Issuer 2015-2019
Table 92 Open Loop Pre-paid Cards: Number of Cards by Operator 2015-2019
Table 93 Open Loop Pre-paid Cards Transaction Value by Issuer 2015-2019
Table 94 Open Loop Pre-paid Cards Transaction Value by Operator 2015-2019
Table 95 Forecast Pre-paid Cards: Number of Cards in Circulation 2020-2025
Table 96 Forecast Pre-paid Cards Transactions 2020-2025
Table 97 Forecast Pre-paid Cards in Circulation: % Growth 2020-2025
Table 98 Forecast Pre-paid Cards Transactions: % Growth 2020-2025
Table 99 Forecast Closed Loop Pre-paid Cards Transactions 2020-2025
Table 100 Forecast Closed Loop Pre-paid Cards Transactions: % Growth 2020-2025
Table 101 Forecast Open Loop Pre-paid Cards Transactions 2020-2025
Table 102 Forecast Open Loop Pre-paid Cards Transactions: % Growth 2020-2025

Store Cards in Denmark - Category analysis

KEY DATA FINDINGS

2020 IMPACT

COVID-19 restrictions limit usage of store cards throughout Denmark

Growing competition from more convenient digital payment formats

Forbrugsforeningen leverages card versatility to maintain leading position

RECOVERY AND OPPORTUNITIES

Increasing competition and changing consumer preferences to limit growth

More positive outlook for store cards associated with petrol stations

Focus on more enticing rewards and bonuses in order to attract consumers

CATEGORY DATA

Table 103 Store Cards: Number of Cards in Circulation 2015-2020
Table 104 Store Cards Transactions 2015-2020
Table 105 Store Cards in Circulation: % Growth 2015-2020
Table 106 Store Cards Transactions: % Growth 2015-2020
Table 107 Store Cards: Number of Cards by Issuer 2015-2019
Table 108 Store Cards: Payment Transaction Value by Issuer 2015-2019
Table 109 Forecast Store Cards: Number of Cards in Circulation 2020-2025
Table 110 Forecast Store Cards Transactions 2020-2025
Table 111 Forecast Store Cards in Circulation: % Growth 2020-2025
Table 112 Forecast Store Cards Transactions: % Growth 2020-2025

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Megatrends

Country Report

Financial Cards and Payments in Denmark

New Report Guarantee

Executive Summary

New Report Guarantee

COVID-19 impact on consumer payments

COVID-19 country impact

Government stimulus packages off-set impact on consumer spending

Leading debit card operators dominate but experiencing growing competition

What next for consumer payments?

Overview

Why buy this report?

Samples (FAQs about samples):

Want to find out more about this report?

Table of Contents

Financial Cards and Payments in Denmark - Industry Overview

EXECUTIVE SUMMARY

COVID-19 impact on consumer payments

COVID-19 country impact

Government stimulus packages off-set impact on consumer spending

Leading debit card operators dominate but experiencing growing competition

What next for consumer payments?

MARKET INDICATORS

MARKET DATA

DISCLAIMER

GLOBAL MACROECONOMIC ENVIRONMENT

GLOBAL INDUSTRY ENVIRONMENT

SOURCES

Charge Cards in Denmark - Category analysis

2020 IMPACT

Credit Cards in Denmark - Category analysis

KEY DATA FINDINGS

2020 IMPACT

Massive rise in e-commerce fuels credit card transactions throughout Denmark

Growing popularity of mobile e-commerce represents threat to growth

Leading credit card brands continue to lose sales share to smaller issuers

RECOVERY AND OPPORTUNITIES

Leading brands invest in raising awareness of benefits of credit cards

Competition fuels interest in cobranding and Fintech partnerships

Focus on offering rewards and benefits in order to attract consumers

CATEGORY DATA

Debit Cards in Denmark - Category analysis

KEY DATA FINDINGS

2020 IMPACT

Shift towards debit cards further boosted by COVID-19 lockdown measures

Younger Danes especially comfortable with card payments

Leading brands experiencing growing competition from new smaller players

RECOVERY AND OPPORTUNITIES

Transition to card payments to continue even after recovery from COVID-19

Smaller players gaining sales share at expense of Dankort national debit card

Consumers increasingly demanding convenience and security

CATEGORY DATA

Pre-Paid Cards in Denmark - Category analysis

KEY DATA FINDINGS

2020 IMPACT

Major reduction in travel due to COVID-19 negatively impacts pre-paid card usage

Closed-loop card transactions supported by widespread use for transport

Rejsekort remains highly popular among convenience seeking consumers

RECOVERY AND OPPORTUNITIES

Widespread use of national travel card ensures positive outlook

Growing concerns over possibility of fraud with pre-paid cards

Innovation and first-mover advantage key to success with open loop pre-paid cards

CATEGORY DATA

Store Cards in Denmark - Category analysis

KEY DATA FINDINGS

2020 IMPACT

COVID-19 restrictions limit usage of store cards throughout Denmark

Growing competition from more convenient digital payment formats

Forbrugsforeningen leverages card versatility to maintain leading position

RECOVERY AND OPPORTUNITIES

Increasing competition and changing consumer preferences to limit growth

More positive outlook for store cards associated with petrol stations

Focus on more enticing rewards and bonuses in order to attract consumers

CATEGORY DATA

Why buy this report?

Want to find out more about this report?

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