Spire has built a Bluetooth low energy (BLE) payments acceptance device, which Nets will use to upgrade thousands of its point of sale terminals across Denmark starting this year.
Dankort is a debit card linked to a bank account that can only be used in Denmark. There’s also the option to buy a Dankort/Visa card for payments abroad.
More than that, according to Danish media outlets there is growing friction between Nets and the country’s biggest bank, Danske Bank, around mobile payments. The outlets report that the bank is in talks with Nets to integrate its popular MobilePay service with Nets new mobile payments offerings, but the parties are still in disagreement.
This comes after reports that big Danish retailers including Coop are pushing back on MobilePay being used in their stores and calling on Nets and Danskebank to work together on a solution.
Additionally, Nets had been picked this year by BOKIS – a Danish banking collective of 62 small and mid-size banks, plus regional banks Jyske Bank, Sydbank, Spar Nord Bank, Arbejdernes Landsbank and Nykredit Bank to launch a new mobile wallet solution, powered by HCE and tokenisation.
HCE and tokenisation also underpins the domestic scheme in Denmark, Dankort, which will be available on the mobile this autumn.
The announcement it was planning to go public came around two years after it was snapped up from a group of Nordic banks including Danske Bank, Nordea and DNB by Advent International and Bain Capital alongside Danish pension fund ATP for USD 3.1bn.
It did not come as too much of a surprise as Bain and Advent also own WorldPay, which they bought back in 2010 from RBS and took public in London’s biggest fintech IPO to date last year.
Nets is headquartered in the Danish capital, but spans across Norway, Finland, Sweden and Estonia with growing presence in the wider Baltic region.
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