Competitor Profile: MobilePay

Competitor Profile: MobilePay

  • November 2019 •
  • 20 pages •
  • Report ID: 5827402 •
  • Format: PDF
Competitor Profile: MobilePay

Summary
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 members, and businesses using their mobile number.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 choose MobilePay at the checkout and approve the payment on their mobile phone. As per our 2019 Banking and Payments Survey, MobilePay accounts for 8.1% of total e-commerce transaction value in Denmark in 2019, ahead of its main rival PayPal. Users can 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 50 banks. It has collaborated with major banks in the Nordic region including Nordea Bank, Jyske Bank, Kreditbanken, SEB, Sydbank, Dragsholm Sparekasse, and Gjensidige Bank. Originally launched in Denmark, it later expanded to Finland and Norway - although its Norway operations were discontinued on January 11, 2018.

The report provides information and insights into alternative payment solution MobilePay including -
- Detailed insight into its business
- 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

Scope
- In May 2013, MobilePay was launched by Danske Bank as a P2P payment solution in Denmark.
- Users can send and request money with a mobile number using the MobilePay app.
- In December 2018, partnered with the Finnish State Treasury to allow citizens to make payments on the government service payment platform Suomi.fi using Mobile Pay.
- In September 2019, partnered with beverage company Hartwall, enabling its beverage vending machines to accept payments through MobilePay.

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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