Frontpage News 2013 Denmark is ready f...

Denmark is ready for new payment solutions

11 November 2013

Report: The Danish Payment Council’s ’’Report on new payment solutions’’ raises the knowledge level for the ongoing debate on the development of the payment infrastructure in Denmark.

The report is a continuation of the modernisation of the Danish payment infrastructure that the banks are working on these years. In the beginning of November, a milestone with this work was reached with the launch of same-day money transfers.  

Digital highway project to 250 million DKK

Even today, new technology and development of new payment solutions shape and transform the financial sector. Digital self-service options have in a few years made it possible for the Danish bank customers to conduct their banking business exactly where and when they want it. Along the way, the solutions become better and easier to use. Recently, new entrants such as IT and telecommunications companies and many others have come along. The innovation in payment services has never been greater, and the customers benefit from this.

The report includes i.a. a description of the existing payment infrastructure in Denmark, a categorisation of various types of new payment solutions and their advantages and disadvantages, the results of a survey of consumers and shops looking for new solutions and a review of the barriers there are in Denmark in relation to the prevalence of new payment solutions.

The report's key findings:

  • Dankort is the Danes’ preferred method of payment
  • Paper is on its way out - only 1/10 of the consumers prefer to pay with cash, while checks have virtually disappeared
  • Consumers are heterogeneous - but want something that is easy, fast and affordable
  • The shops have the greatest expectations of the mobile phone - and the consumers are ready
  • The traditional distinctions are increasingly blurring (e.g. between payment instruments and long-distance payments), and new players are increasingly important
  • New payment situations and new solutions change the risk
  • The market for payment services has a number of characteristics, including network effects and economies of scale that can make it difficult to launch new solutions, not least because of the Danish penchant for the Dankort
The report concludes that there are no identified critical barriers to the spread of new payment services in Denmark. This is good news for Danish consumers.


The purpose of the "Report on new payment solutions" is to analyse the market for payment services in Denmark, with a particular focus on new payment methods, including an analysis of any barriers in Denmark for the spread of such.
The report was prepared by a working group from the Danish Payment Council, with the participation of the Board members, including the Danish Bankers Association, and a number of other stakeholders and experts in the field of payments.
We gather statistics by using cookies. If you continue using the site, you automatically agree to this. Reject here