Dallas, TX (PRWEB) June 01, 2013
Denmark has the world’s highest level of income equality. Danes have the highest per capita income in the world and Danish financial markets rank 10th among the world’s strongest financial markets, with an approximate per capita income of DKK326,387.3 (US$56,393) and total financial assets of US$1.2 trillion in 2012. The Danish cards and payments industry is one of the well-developed and highly regulated in the world.
Strongly regulated frameworks and a well-organized settlement system gives 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), guides the minister for Economic and Business Affairs in regulating the industry.
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Since 2010, growth in credit cards and co-badged debit cards has increased in the Danish cards and payments industry in terms of cards in circulation. The economic slowdown had little noticeable effect on the growth of the international cards category between 2008 and 2012, and the growth in the use of international payment cards is expected to contribute significantly to the industry in the future.
The Danish card payment channel is one of the world’s most developed markets and is mature in nature. In terms of the numbers of cards in circulation, the overall l industry registered a CAGR of 4.31% during the review period. However, in terms of the total card transaction value, growth was at a CAGR of 1.62%, mainly due to the 2008 global economic slowdown. The value of card transactions is projected to record a low CAGR of 1.00% between 2012 and 2017.
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