PROSPECTS AND OPPORTUNITIES
Credit cards expected to see further development in transactions and value
Credit card transactions and value are expected to continue growing beyond 2024, with growth rates likely to outpace those of debit cards. However, despite this expansion, credit cards are not expected to challenge debit cards as the primary everyday payment method.
Big banks and Mastercard will continue leading, while Visa and American Express likely to see decline
The dominance of Denmark’s major banks in the credit card market is expected to persist in the coming years. Danish consumers generally remain loyal to their primary banks and only switch credit cards if a compelling offer or unique selling point is presented by another issuer.
Technological developments and intensified competition anticipated for forecast period
Payment behaviour in Denmark is evolving, with physical cards increasingly being replaced by mobile wallet solutions. While this shift is most pronounced in everyday debit card transactions, credit cards are also being affected and are expected to see further adoption in mobile payment formats.
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Overview:
Understand the latest market trends and future growth opportunities for the Credit Card Transactions industry in Denmark with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
If you're in the Credit Card Transactions industry in Denmark, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
The Credit Card Transactions in Denmark report includes:
- Analysis of key supply-side and demand trends
- Detailed segmentation of international and local products
- Historic volume and value sizes, company and brand market shares
- Five year forecasts of market trends and market growth
- Robust and transparent research methodology, conducted in-country
This report answers:
- What is the market size of Credit Card Transactions in Denmark?
- What are the major trends key to understanding Credit Card Transactions in Denmark?
- How has COVID-19, recession and macroeconomic volatility impacted the market?
- How long will the market take to recover? What are the opportunities now?
- How will political context and shifting cultural values shape future growth?
- Where is future growth expected to be most dynamic?
Credit Cards in Denmark - Category analysis
Credit Cards in Denmark - Company Profile
KEY DATA FINDINGS
Record growth for credit card usage in Denmark in 2024
Development patterns in credit cards differ significantly from those seen in debit cards
Major banks lead in issuers, Mastercard in operators
Credit cards expected to see further development in transactions and value
Big banks and Mastercard will continue leading, while Visa and American Express likely to see decline
Technological developments and intensified competition anticipated for forecast period
Debit Cards in Denmark - Category analysis
Debit Cards in Denmark - Company Profile
KEY DATA FINDINGS
2024 as a record-breaking year for personal debit cards in Denmark
Debit cards remain preferred choice for Danes
Local banks and Dankort maintain leadership over debit cards
Limited room for extraordinary growth in debit card adoption
Increasing reliance on mobile wallets
Banks to continue shaping the competitive landscape
Pre-Paid Cards in Denmark - Category analysis
Pre-Paid Cards in Denmark - Company Profile
KEY DATA FINDINGS
Pre-paid cards sees a strong 2024
Pre-paid card usage remains lower than mainstream payment cards
Closed loop cards dominate but open-loop cards rise faster
Pre-paid cards to remain popular but relatively niche
Slow transformation in the category reflected in unit price developments
Merchant issued gift cards will remain relevant despite category shifts
Store Cards in Denmark - Category analysis
Store Cards in Denmark - Company Profile
KEY DATA FINDINGS
Store cards continues to decline amid broader card growth
A digital-first society leaves little room for store cards
Store cards remain numerous but rarely used
Store cards faces further decline
Low usage frequency to persist
Fragmented market with key players maintaining positions
Financial Cards and Payments in Denmark - Industry Overview
Financial cards and payments in 2024: The big picture
2024 key trends
Competitive landscape
What next for financial cards and payments?
DISCLAIMER
The following categories and subcategories are included:
Credit Card Transactions
- Commercial Credit Card Transactions
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- Average Personal Credit Card Balance
- Average Personal Credit Card Limit
- Personal Credit Card Utilisation
Credit Card Transactions
Credit cards allow for purchases against a preapproved line of credit. The account holder has the choice of whether to pay off the entire balance each month or opt for monthly instalments with the balance serving as revolving credit. If the cardholder decides to revolve a balance, the consumer pays interest. Credit cards can include affinity cards, reward cards and types of co-branded cards. Co-branded retailer cards—issued by retailers acting as financial institutions and without usage restrictions—are included in this category. Cards issued by a retailer with usage limited to a specific store within a predefined retail group fall under the store cards definition. Debit cards with an overdraft function are not counted as cards with a credit function. Payments are tracked based on the country of residence / account issuance and include outbound spend while excluding inbound spend.
See all of our definitionsWhy 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
This report originates from Passport, our Credit Card Transactions research and analysis database.
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