Denmark Payments Market Size & Share Analysis - Growth Trends & Forecasts (2025 - 2030)

The Denmark Payments Market is segmented by Mode of Payment (Point of Sale (Card Payments, Digital Wallet, Cash), Online Sale (Card Payments, Digital Wallet)), and by End-user Industries (Retail, Entertainment, Healthcare, Hospitality).

Denmark Payments Market Size & Share Analysis - Growth Trends & Forecasts (2025 - 2030)

Denmark Payments Market Size

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Denmark Payments Market
Study Period 2019 - 2030
Base Year For Estimation 2024
Forecast Data Period 2025 - 2030
Historical Data Period 2019 - 2023
CAGR 7.50 %
Market Concentration Medium

Major Players

Denmark Payments Market Major Players

*Disclaimer: Major Players sorted in no particular order

Compare market size and growth of Denmark Payments Market with other markets in Technology, Media and Telecom Industry

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Denmark Payments Market Analysis

The Denmark Payments Market is expected to register a CAGR of greater than 7.5% during the forecast period.

The Danish payments infrastructure is a network of technologies that allows individuals, businesses, and financial institutions to exchange payments and securities transactions. On an ordinary banking day, payments worth KR 640 billion are cleared and paid through the Danish financial infrastructure's key IT systems.

Denmark has an intelligent economy at the forefront of numerous cutting-edge payment programs, including P27, which will facilitate instant payments for all residents and organizations in the countries of Denmark, Finland, and Sweden.

The Danish e-commerce market is booming. According to the International Trade Administration, Denmark is the 29th largest market for eCommerce, with a revenue of USD 6 billion in 2020. The e-commerce market in the country has improved due to the increase in mobile commerce, extended pickup options, and optimization of processes by big data analytics.

Further, digital-only banks are entering the danish banking market. For instance, companies such as Lunar, Revolut, and many more, which operate only through online applications, are serving the population in the country. The domestic mobile-only bank Lunar Bank is the largest digital-only bank in Denmark. The bank serves 400,000 consumers across the Nordic markets.

Furthermore, the Covid-19 epidemic has supported a significant shift in payment practice, such as a decrease in cash payments, a move from in-store to online payment methods, and the adoption of quick payments. These shifts have offered new opportunities for Danish payment providers.

Denmark Payments Industry Overview

The Denmark payments market is moderately competitive with players such as MobilePay A/S, Visa Inc., American Express Company, Mastercard Inc., and PayPal Payments Private Limited. The companies are introducing new offerings, continuously investing in partnerships and acquisitions, and product development to increase the market share.

January 2022 - Revolut was launched in 10 Western European countries, including Denmark. Customers get a virtual Mastercard debit card upon opening a bank account. This company offers deposit protection for up to EUR 100,000 under the deposit guarantee scheme.

February 2022 - ViaBill, a Denmark-based buy now, pay later (BNPL) provider, has raised USD 120 million in equity and debt funding round led by London-based Fasanara Capital. The company used the finance to launch its BNPL product offering in Denmark, Spain, and the USA.

Denmark Payments Market Leaders

  1. MobilePay A/S

  2. Visa Inc.

  3. American Express Company

  4. Mastercard Inc.

  5. PayPal

  6. *Disclaimer: Major Players sorted in no particular order
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Denmark Payments Market News

April 2022 - Softpay.io, Nets, part of Nexi Group, has introduced a new softPOS solution, Softpay. This enables merchants to accept contactless payments on Android smartphones and tablets, just like a payment terminal, without additional hardware.

August 2021 - Google Pay launched payments via smartwatches in Denmark, allowing Google Pay users to initiate and make payments through smartwatches compatible with the Android operating system.

Denmark Payments Market Report - Table of Contents

1. INTRODUCTION

  • 1.1 Study Assumptions and Market Definitions
  • 1.2 Scope of the Study

2. RESEARCH METHODOLOGY

3. EXECUTIVE SUMMARY

4. MARKET INSIGHTS

  • 4.1 Market Overview
  • 4.2 Industry Stakeholder Analysis
  • 4.3 Industry Attractiveness-Porter's Five Forces Analysis
    • 4.3.1 Bargaining Power of Suppliers
    • 4.3.2 Bargaining Power of Buyers/Consumers
    • 4.3.3 Threat of New Entrants
    • 4.3.4 Threat of Substitute Products
    • 4.3.5 Intensity of Competitive Rivalry
  • 4.4 Evolution of the payments landscape in Denmark
  • 4.5 Key market trends pertaining to the growth of cashless transaction in Denmark
  • 4.6 Impact of COVID-19 on the payments market in Denmark

5. MARKET DYNAMICS

  • 5.1 Market Drivers
    • 5.1.1 Increase in E-commerce to augment the market growth
    • 5.1.2 Rise in Digital-only banks
    • 5.1.3 Growing acceptance of payment cards by retailers
  • 5.2 Market Challenges
    • 5.2.1 Dependency on outdated correspondent banking networks
  • 5.3 Market Opportunities
    • 5.3.1 Adoption of contactless card payments
    • 5.3.2 New Entrants to Drive Innovation Leading to Higher Adoption
  • 5.4 Key Regulations and Standards in the Digital Payments Industry
  • 5.5 Analysis of major case studies and use-cases
  • 5.6 Analysis of key demographic trends and patterns related to the payments industry in Denmark (Coverage to include Population, Internet Penetration, Banking Penetration/Unbanking Population, Age & Income etc.)
  • 5.7 Analysis of the increasing emphasis on customer satisfaction and convergence of global trends in Denmark
  • 5.8 Analysis of cash displacement and rise of contactless payment modes in Denmark

6. Market Segmentation

  • 6.1 By Mode of Payment
    • 6.1.1 Point of Sale
    • 6.1.1.1 Card Payments (includes Debit Cards, Credit Cards, Bank Financing Prepaid Cards)
    • 6.1.1.2 Digital Wallet (includes Mobile Wallets)
    • 6.1.1.3 Cash
    • 6.1.1.4 Others
    • 6.1.2 Online Sale
    • 6.1.2.1 Card Payments (includes Debit Cards, Credit Cards, Bank Financing Prepaid Cards)
    • 6.1.2.2 Digital Wallet (includes Mobile Wallets)
    • 6.1.2.3 Others (includes Cash on Delivery, Bank Transfer, and Buy Now, Pay Later)
  • 6.2 By End-user Industry
    • 6.2.1 Retail
    • 6.2.2 Entertainment
    • 6.2.3 Healthcare
    • 6.2.4 Hospitality
    • 6.2.5 Other End-user Industries

7. Competitive Landscape

  • 7.1 Company Profiles
    • 7.1.1 MobilePay A/S
    • 7.1.2 Visa Inc.
    • 7.1.3 American Express Company
    • 7.1.4 Mastercard Inc.
    • 7.1.5 PayPal Payments Private Limited
    • 7.1.6 Valitor
    • 7.1.7 Nordea Bank Danmark A/S
    • 7.1.8 Jyske Bank A/S
    • 7.1.9 Google Pay
    • 7.1.10 Nykredit Group
  • *List Not Exhaustive

8. Investment Analysis

9. Future Outlook of the Market

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Denmark Payments Industry Segmentation

The Denmark Payments Market is segmented by Mode of Payment (Point of Sale (Card Payments, Digital Wallet, Cash), Online Sale (Card Payments, Digital Wallet)), and by End-user Industries (Retail, Entertainment, Healthcare, Hospitality). E-commerce payments include online purchases of goods and services such as purchases made on e-commerce websites and online booking of travel and accommodation. The market scope excludes online purchases of motor vehicles, real estate, utility bill payments (such as water, heating, and electricity), mortgage payments, loans, credit card bills, or purchases of shares and bonds. As for Point-of-Sale, all transactions that occur at the physical point of sale are included in the scope of the market. It includes traditional in-store transactions and all face-to-face transactions regardless of the location of the transaction. Cash is also considered for both cases (cash-on-delivery for e-commerce sales).

The study tracks key market metrics, underlying growth influencers, and significant industry vendors, supporting Denmark's market estimates and growth rates throughout the anticipated period. The study looks at COVID-19's overall influence on the Danish payment ecosystem.

By Mode of Payment Point of Sale Card Payments (includes Debit Cards, Credit Cards, Bank Financing Prepaid Cards)
Digital Wallet (includes Mobile Wallets)
Cash
Others
Online Sale Card Payments (includes Debit Cards, Credit Cards, Bank Financing Prepaid Cards)
Digital Wallet (includes Mobile Wallets)
Others (includes Cash on Delivery, Bank Transfer, and Buy Now, Pay Later)
By End-user Industry Retail
Entertainment
Healthcare
Hospitality
Other End-user Industries
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Denmark Payments Market Research FAQs

What is the current Denmark Payments Market size?

The Denmark Payments Market is projected to register a CAGR of greater than 7.5% during the forecast period (2025-2030)

Who are the key players in Denmark Payments Market?

MobilePay A/S, Visa Inc., American Express Company, Mastercard Inc. and PayPal are the major companies operating in the Denmark Payments Market.

What years does this Denmark Payments Market cover?

The report covers the Denmark Payments Market historical market size for years: 2019, 2020, 2021, 2022, 2023 and 2024. The report also forecasts the Denmark Payments Market size for years: 2025, 2026, 2027, 2028, 2029 and 2030.

Denmark Payments Industry Report

Statistics for the 2025 Denmark Payments market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Denmark Payments analysis includes a market forecast outlook for 2025 to 2030 and historical overview. Get a sample of this industry analysis as a free report PDF download.