MobilePay is a Danish mobile payment application developed and owned by Danske Bank. It's currently offered to Danish and Finnish users and is known for its simplicity. Just type in the amount and swipe to pay.
Advantages of using MobilePay
Private users can use MobilePay without paying any fees. Danske Bank estimates that 3 million people in Denmark use the app.
The app functionality and simplicity is impressive. With MobilePay you can take payments in stores, webshops, apps, and even at supermarket checkouts in Denmark and Finland. Considering the popularity, especially among Danish consumers, this payment method is a great idea for most Danish businesses to implement.
It's easy for businesses to keep track of payment data. The dashboard gives you a simple overview of transactions and lets you analyze data, making it much easier for you to increase cash flow and reach sales goals.
Log in with multiple accounts, create subscriptions, and send invoices directly from the platform.
Disadvantages of using MobilePay
An obvious disadvantage is that MobilePay is only available in Denmark and Finland, two relatively small markets.
Compared to other payment software, MobilePay has a relatively high setup fee for businesses (read below in Payment Process).
The app is developed for iOS and Android and only works for these operating systems.
The set-up fee of MobilePay for business is 134€.
Organizations that use MobilePay to collect donations for charity don't pay fees. Businesses making contributions to charity will still have to pay the fees.
Price for business: around 0.04€-0.11€ per transaction.