Alternative Payment Solution: MobilePay
MobilePay is a popular mobile payment solution in Denmark. Launched as a money transfer app by Danske Bank in 2013, it later extended its offering to include online, in-app, and in-store payments. It allows users to make fund transfers between friends, family, and businesses with their mobile numbers. As of August 2017 more than 400 million transfers have been made via MobilePay in Denmark.
Users can store card details within the MobilePay app, which can be used for payments at online and offline merchants. To make online payments, users need to choose MobilePay at checkout and approve the payment on their mobile phone. MobilePay accounts for 8.2% of e-commerce transaction value in Denmark, which places it ahead of its main rival PayPal.
Users can also make in-store payments via NFC (at compatible terminals) or by scanning the QR code available at merchant stores. MobilePay is supported by major payment schemes Dankort, Visa, and Mastercard as well as by more than 60 banks. It has collaborated with major banks in the Nordic region including Nordea Bank, Jyske Bank, Kreditbanken, SEB, Sydbank, Dragsholm Sparekasse, and Gjensidige Bank.
The report provides information and insights into alternative payment solution MobilePay, including-
Detailed insight into its business and geographical presence
Comprehensive coverage of its products and services
Comparative assessment with key alternative payment solutions
Information on its performance, including its revenue model
The company's important events and milestones.
MobilePay was launched as a money transfer app by Danske Bank in 2013.
In June 2017, MobilePay partnered with payment solutions provider Verifone.
MobilePay is supported by more than 7,000 online stores in Denmark.
As of October 2017 the app was installed on nine out of 10 smartphones in Denmark.
Reasons to buy
Gain insights into MobilePay's business operations, and key events.
Gain insights into its product portfolio and revenue model.
Assess the competitive dynamics in the alternative payments industry by comparing its performance against competitors.
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