Dankort on the mobile is expected to be launched this autumn and will be based on an JCB’s technology, an international payments scheme originating from Japan. Subsequently, it will be made available in mobile wallets issued by banks or others.
Nets believes that in 2020 up to half of all payments at the point-of-sale in Denmark may be initialized from a smartphone and that there will be more than 3 million Dankort payments on mobile phones.
The first step in the partnership will be to base Dankort on the mobile phone on JCBs technology and the second phase will include international interoperability using JCBs network. This partnership also marks an important milestone for JCB as it aims to accelerate its mobile payment implementation globally using Host Card Emulation (HCE) technology.
The way it will work is that the user just taps and goes without any physical contact between phone and terminal. If the payment exceeds DKK 200, a passcode must be entered on the phone to complete the payment.
What`s more, Dankort on the mobile phone can be accepted by all merchants accepting Dankort based on the current subscription model and the existing terminal infrastructure. Merchants who have already activated their terminal to accept contactless payments will only have to make small adjustments to their terminal set-up.
The number of terminals with contactless readers is steadily increasing. Right now 60 pct. of all Dankort transactions are carried out using a contactless enabled terminal and over the coming years, Nets expects that most of the terminals in Denmark will be able to accept contactless payments.
In addition, the core technology powering Dankort on the mobile includes tokenisation and card member protection.
Through this partnership agreement, Nets will, with support from terminal vendors and integrators, gradually prepare Danish terminals to accept payments with Dankort via mobile phones.
Once this is in place, JCB card members can benefit from making J/Speedy contactless payments when visiting merchants in Denmark that accept JCB cards.
JCB is a global payments brand and a credit card issuer and acquirer in Japan. JCB launched its card business in Japan in 1961 and began expanding worldwide in 1981. Its acceptance network includes around 30 million merchants and over 1 million cash advance locations in 190 countries and territories.
Nets is specialised in powering digital payments. They connect banks, businesses and consumers via an international network facilitating digital payments, providing a broad range of card services, account services, and payment solutions for merchants.
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