10/09/2014 Banking Innovation



Changing the way a nation transfers money.

Innovation presentation

Danske Bank’s MobilePay payments solution has transformed the way Denmark’s citizens transfer money. The solution has been designed to enable users to transfer money to others as easily as sending a text message or giving them cash, making Danske Bank a digital frontrunner in the industry.

Thanks to the success of MobilePay, Danske Bank has fulfilled its ambition of bringing MobilePay to the retail and business level. Further development to the solution includes MobilePay Business, MobilePay App Switch and MobilePay Online, which allow customers to use MobilePay in a variety of situations, such as when they want to split a restaurant bill with others, when making a purchase in a physical store or an online shop, and when donating money to charities and non-government organisations.

Uniqueness of the project

MobilePay provides users with an easy way to transfer money to other users, or to pay for goods and services online and in physical stores. The solution is unique because it is simple to use and easy to sign up for – all customers need to do is enter a four-digit PIN, choose the receiver and swipe. When choosing a receiver, the customer can either enter a mobile phone number, choose a contact in their phone book, or select a shop from a list of nearby retailers that accept MobilePay. Meanwhile, signing up to the solution takes less than five minutes and only requires the user to enter their name, e-mail address, phone number, account number and credit card details.

MobilePay fits with the bank’s aim to revolutionise banking and represents a disruptive innovation by taking root in a simple P2P solution that is available to all. It has also escalated in the market with additional solutions for physical and online shops, as well as in-app stores.

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