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Emerging Opportunities in Denmark’s Cards and Payments Industry: Market Size, Trends and Drivers, Strategies, Products and Competitive Landscape

Denmark payment cards market: 4.3% CAGR between 2008-2012


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2014-02-18 05:32:03 - Emerging Opportunities in Denmark’s Cards and Payments Industry: Market Size, Trends and Drivers, Strategies, Products and Competitive Landscape - a new market research report on companiesandmarkets.com

The Danish cards and payments industry is one of the most well-developed and highly regulated in the world. The cards and payments industry in Denmark has its roots in the 1960s, when Danish banks were among the first in the world to develop and invest in electronic payment services. In 1983, Danish company PBS A/S introduced the countrys national debit card, the Dankort, and since then, the entire payment preferences of consumers have shifted from cash and check payments to the Dankort. Despite growing competition from international payment cards, Dankort and its co-badged solutions still dominate the Danish cards and payments industry.

The total number of cards issued in Denmark rose from 10.8 million in 2008 to 12.7 million in 2012,

 

 

at a CAGR of 4.31% during the review period. Over the forecast period, the prepaid cards category is expected to record a CAGR of 2.36% and will hold a significant share in the industry. The debit card category registered a CAGR of 5.25% during the review period, growing from 5.1 million cards in 2008 to 6.2 million in 2012. Overall, the number of cards across all categories is expected to grow at a CAGR of 1.43% over the forecast period, rising from 13.0 million in 2013 to 13.7 million in 2017.

Key Highlights

• The total number of cards in Denmark rose from 10.8 million in 2008 to 12.7 million in 2012, at a CAGR of 4.31% during the review period. The total number of cards in circulation over the forecast period is expected to grow at a CAGR of 1.43%, from 13.0 million in 2013 to 13.7 million in 2017.

• Strongly regulated frameworks and a well-organized settlement system give the Danish cards and payments industry an edge over other economies. The National Bank of Denmark, along with the Danish Competition and Consumer Authority (DCCA), guide the Minister for Economic and Business Affairs in regulating the industry.

• The Danish cards and payments industry is among the worlds most developed markets. This is primarily due to the consumer preference for cards as a payment option. The broad range of cards available can be used by consumers for basic payments such as mobile recharges, gifts, retail shopping, petrol payments, travel expenses, payroll and insurance cover. The Danish cards and payments industry was worth DKK332.6 billion (US$57.5 billion) at the end of financial year 2012.

• E-commerce in Denmark grew during the review period, from DKK11.1 billion (US$2.2 billion) in 2008 to DKK20.1 billion (US$3.5 billion) in 2012, at a CAGR of 16.04%. This was largely due to growing internet penetration and high online sales in the country. E-commerce is expected to record a CAGR of 12.80% over the forecast period.

Report Scope

• This report provides a comprehensive analysis of Denmarks cards and payments industry
• It provides current values for Denmarks cards and payments industry for 2012 and forecast figures for 2017
• It details the different macroeconomic, infrastructural, consumer and business drivers affecting Denmarks cards and payments industry
• It outlines the current regulatory framework in the industry
• It details the marketing strategies used by various bankers and other institutions
• It profiles the major banks in Denmarks cards and payments industry

Reasons to Buy

• Make strategic business decisions using historic and forecast market data related to Denmarks cards and payments industry and each market within it
• Understand the key market trends and growth opportunities within Denmarks cards and payments industry
• Assess the competitive dynamics in Denmarks cards and payments industry
• Gain insights into the marketing strategies used for selling various types of cards in Denmark
• Gain insights into key regulations governing Denmarks cards and payments industry

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Mike King
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