The Danish government has announced an agreement to revitalize the Dankort, aiming to make it more appealing, particularly to young people, and to bolster its competitiveness against international payment methods. The initiative seeks to modernize the card and ensure its continued relevance in the evolving payment landscape.

A key component of the plan is the introduction of a balance check feature for Dankort users under 18. This aims to make the card more attractive to younger demographics and encourage its use.

The agreement, backed by a coalition of political parties, including the government, SF, The Social Liberals, The Conservatives, and the Danish People’s Party, is seen as a significant step towards strengthening the Dankort, which was first introduced in 1983.

The move comes as the Dankort’s market share has declined in recent years. The Ministry of Industry, Business and Financial Affairs reports that the Dankort’s share of transactions has fallen from 80 percent nine years ago to 40 percent today.

The agreement parties aim to foster an environment conducive to the development and widespread adoption of the Dankort, ensuring it remains a modern and competitive payment option. This includes facilitating the integration of the Dankort into mobile platforms like Apple Pay and Google Pay.

Furthermore, the agreement paves the way for businesses and associations to issue Dankort, which could reduce their reliance on international payment cards and the associated fees.

Nets, the company that owns the Dankort, will be allowed to invest in the card’s development within the established “revenue framework.” According to Minister for Industry, Business and Financial Affairs Morten Bødskov (S), the goal is to make the Dankort more attractive and pave the way for investments that will enhance its competitiveness.

The parties involved underscore that increased payment options contribute to a more resilient payment system in Denmark. The initiative is also intended to lessen the country’s dependence on international competitors and payment cards.