Public document released by the Central Bank describes measures to be taken by the company in order to disproof malpractices
Internet usage is very high in Denmark. 99% of Danes use the internet, while 70% of them shop online. In 2017, Danes spent 3,188$ US per capita online, compared to 19,916$ US at brick-and-mortar shops. With a population of 6 million, Denmark has already reached 21 billion USD revenue through e-commerce and m-commerce. A steady growth of 9% is expected until 2022. Meanwhile, mobile payments, benefiting from an extremely high adoption rate, are expected to double in the same period.
Debit cards and bank transfers are generally the preferred method of payment. In 2017, 26% of online payments and 2% of point of sale transactions were processed through e-wallets. Alternative payment methods, including e-wallets, namely PayPal and Skrill, are all gaining popularity. This type of payment will continue to grow strongly in the future as will other alternative payment methods. Cash payments are steadily declining, to the benefit of cards and mobile payments. The latter being increasingly available in stores.
Contactless payments have also become a part of the everyday life, both with younger and older generations. The Rejsekort, a travel card, is the first contactless prepaid card in Denmark is gaining popularity. It can notably be used to pay train and bus fares all over the country.
Danes have a marked preference for debit cards over credit cards. Dankort, the Danish national debit card is leading the country's card industry. In 2017, it was used for 71% of all e-commerce and POS card payments. Co-branded by Visa, Dankort is affordable and can be used all over Denmark as well as internationally. The card act as a debit card when buying in Denmark, and automatically act like a Visa credit card when buying abroad. To add to its popularity, the card isn't imposed the 0.5% to 1% surcharge that store apply to their competition.
Further payment methods used in Denmark are Trustly, Klarna, Danske Bank, paysafecard, Jyske Bank, Nordea, MoneyToPay, Dankort, AcceptEmail, Ukash, PAyByBill and VisaDebit.
Debit card 24%
Credit card 18%
Bank transfer 15%
Charge debit card 8%
16 Bil. USD
Population: 6 Mil.
Internet Usage: 99%
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