Analyses focus on current issues of particular relevance to Danmarks Nationalbank’s objectives. The analyses may also contain Danmarks Nationalbank’s recommendations. They include our projections for the Danish economy and our assessment of financial stability. Analyses are targeted at people with a broad interest in economic and financial matters.

No. 17

Offline card payments as a payment contingency measure

The Danes have fully embraced digital payment solutions. This means that Danish citizens’ payments are highly dependent on the digital payment solutions functioning in stores. In Denmark, it is possible to use the vast majority of payment cards even if the underlying payment systems or the internet are unavailable.

Why is this important?

One of Danmarks Nationalbank’s most important tasks is to contribute to ensuring that payments can be and are effected securely and efficiently. Concomitant with analogue means of payment, such as cash, playing a decreasing role, digital payment solutions have become essential for the exchange of goods and services between individuals and businesses. Security is high on the agenda, but it is possible that, for example, cyber incidents may impact digital payment solutions. It is therefore important to have a digital payment contingency plan that enables citizens to maintain a basic level of spending.