The Competition and Consumer Authority released the 'Payment Report 2024', emphasizing the need for an efficient payment market to ensure secure and affordable transactions for businesses and consumers.

The report reveals that businesses, authorities, and other payment recipients could save an average of over 40% on processing fees by opting for the cheapest card acquirer instead of the most expensive, underscoring the importance of active selection of acquirers and processing terms.

Additionally, the report notes a decline in the use of domestic payment cards like Dankort in favor of international cards, partly attributed to the increasing popularity of digital wallet solutions.

Furthermore, the report highlights the prevalence of co-badged cards, with nearly half of all cards issued in 2023 featuring multiple payment solutions such as Visa/Dankort and Mastercard Dankort.