Danske Bank and Nets sign new five-year Dankort agreement

Source: Danske Bank

Danske Bank and Nets have entered into a five-year agreement to issue and develop the Dankort card.

This means that Danske Bank’s customers will still be able to use the Dankort card for payments as they do today. Furthermore, the parties will cooperate to develop the payment infrastructure in Denmark.

Danske Bank’s customers must also in future be able to pay with the Dankort card, thus using one of the most popular payment solutions in Denmark.

This is one of the main points in a new five-year agreement between Danske Bank and Nets, which stands behind the Dankort card.

“Immense changes are taking place in the payment market these years,” says Jesper Nielsen, Interim Chief Executive Officer of Danske Bank. “Mobile payments are becoming increasingly popular as are a number of other new payment solutions. Moreover, we know that the Dankort card remains one of the most widely used payment solutions in Denmark. This being the case, we are pleased that we, with the agreement, send a clear signal to our customers that they, also after 2019, will be able to use the Dankort card for payments as they do today.”

Easy, secure and inexpensive payments
The previous agreement in the area was entered into between the banks jointly and Nets, and it runs until 31 December 2019. The new agreement, however, is entered into directly between Danske Bank and Nets, and it ensures that Danske Bank’s customers can have a Dankort card also after 2019.

“It is not possible to predict what the payment market will look like over the coming years, and it is therefore also difficult to make long-term plans in the area,” adds Jesper Nielsen. “What we consider most important is that our customers are able to make easy, secure and inexpensive payments, and, with this agreement, we also assume joint responsibility for cooperating to develop the payment infrastructure in Denmark for the benefit of Danish consumers and businesses.”

“We are pleased that the largest bank in Denmark has decided to continue issuing the Dankort card as we know it today for the coming five years,” says Bo Nilsson, Group CEO of Nets. “Danske Bank’s decision is an important step towards creating a stable foundation for the Dankort card of tomorrow, so it can retain and develop its position in society as a secure, innovative and cost-effective means of payment.”

Cooperation to develop the payment infrastructure
In continuation of the agreement, Danske Bank and Nets will examine how they can develop the Danish payment infrastructure together, thereby continuing to deliver new, innovative and user-friendly payment solutions to shops and end users of payment services in Denmark.

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