Frontpage News 2015 New payment type p...

New payment type passes DKK 100 billion in one year

19 November 2015

Express Clearing: one year ago, banks gave Danes the possibility of sending money to each other within seconds - 24 hours a day, 365 days a year. Express Clearing has now passed a turnover of approximately DKK 100 billion.

Danes were quick to take advantage of the possibility of real-time payments via MobilePay, Swipp and as an option in mobile and online banking.  Already within the first week of the launch in 2014 the clearing’s turnover reached DKK 1 billion.

Almost a year after the launch, the latest figures show a high and continually increasing number of transactions in Express Clearing, which has reached a turnover of approximately DKK 100 billion.
 
“The figures speak for themselves. Danes have been very quick to start using real-time payments and more generally, this development confirms the tendency that Danes are curious about and ready to use new payment types,” Michael Busk-Jepsen, Executive Director at the Danish Bankers Association says.
 
 
Figure 1: the number of Express Clearing Transactions and amount transferred
Source: Nets and the Danish Bankers Association.
 
 
A closer look at the figures behind Express Clearing shows that the amount of large transactions keeps up with the development in the total amount of transactions.
 
“This shows that Danes also use Express Clearing when they need to buy larger consumer goods, such as cars and electronics,” Michael Busk-Jepsen explains.
 
 
Figure 2: growth in the number of Express Clearing Transactions
Growth rates show all transactions and transactions with a value of over DKK 10,000.
Source: Nets and the Danish Bankers Association.
 
 
International studies show that overall, 16 countries in the world offer real-time payments to their bank customers.
 
“This demonstrates that Danish banks are also at the forefront in an international context and are pushing the development forward, when it comes to providing customers with up-to-date payment solutions,” Michael Busk-Jepsen says.
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