September 30, 2016
Danske Bank and Bambora enter into acquiring agreement that offers Nordic MobilePay users a better overview of their payments. Meanwhile, business owners in the Nordics will be able to integrate MobilePay directly into Bambora payment terminals.
Danske Bank has entered into a Nordic agreement with Bambora regarding the acquirement of international card transactions through MobilePay. The agreement is already effective in Norway and Finland – and in Denmark from the turn of the year. Bambora is one of the largest acquirers in the Nordics.
Additionally, the two partners have made a Nordic agreement, meaning that MobilePay users will be able to use mobile payments via Bambora terminals prepared for contactless mobile payments. From 2017, stores with such terminals will be able to handle payments with MobilePay without having to install additional hardware at the checkout register.
“We and Bambora share the same ambition to create open and user-friendly eco-systems for payments for Nordic business owners and consumers. With Bambora as acquirer of MobilePay transactions together with the spread of MobilePay through flexible terminals, we are able to secure Nordic consumers an open and cost-efficient payment system with free competition,” says Mark Wraa-Hansen, Head of MobilePay in Danske Bank.
The agreement comprises up to 50 m transactions per year
The acquiring agreement is of special significance in Denmark where MobilePay has gained enormous ground. In 2017, it is expected that 40-50 m MobilePay transactions will be from users who use international payments cards but are not Danske Bank customers. This applies to more than 70 percent of MobilePay’s 3.2 m users.
The agreement corresponds to the one Danske Bank made only a couple of weeks ago with Verifone and which earlier this week led to a major deal with Dagrofa.
The Bambora deal provides MobilePay users and stores with many advantages
- Thanks to the acquiring agreement with Bambora, MobilePay users will have a better overview of their transactions. Henceforth, there will be specified account information regarding when and where a transaction took place, just as the transaction will be placed in the correct expenditure category such as restaurant, sports equipment and more.
- Potentially, thousands of new business owners will start using MobilePay in Denmark, Norway and Finland.
- As of spring 2017, it will be possible to fully integrate MobilePay into the terminal, thus making payments easier for both business owners and their customers.
- MobilePay will be part of an open eco-system which is cost-efficient and customer friendly.