Nets and JCB International (JCB), have entered into a partnership agreement which allows Nets to use J/Speedy, JCB’s contactless technology, for Dankort payments with smart phones.
Nets believes that in 2020 up to half of all payments at POS in Denmark may be initialized
from a smartphone and that there will be more than 3 million Dankort on mobile phones. This also marks an important milestone for JCB as it aims to accelerate its mobile payment implementation globally using Host Card Emulation (HCE) technology.
Seamless transition for Danish cardmembers and merchants
Paying contactless with the mobile will be very similar to the payment experience when using the contactless cards at POS. If the payment exceeds DKK 200 a passcode must be entered on the phone to complete the payment.
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% 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.
Dankort was originally established based on international scheme standards and international corporation has ever since been an important driver in the ongoing development of the Dankort. Therefore, the partnership with JCB is a natural next step for the Dankort. The core technology powering Dankort on the mobile includes state-of-the-art security through tokenisation and strong cardmember protection. It will not be visible for cardmembers as they will pay in the same way as they do today with their contactless plastic cards.
Contactless payments to JCB cardmembers in Denmark
As a result of the 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 cardmembers can benefit from making J/Speedy contactless payments when visiting merchants in Denmark that accept JCB cards.