Dankort is a Danish payment method that allows consumers to pay for their purchases using their bank account. It's similar to other electronic wallets, but it's unique in that it's integrated with the national bank, is used by millions of people across Denmark, and is accepted by nearly all Danish businesses.
The Dankort Network is the company that processes payments made with Dankort. It provides services for merchants who accept Dankort payments, as well as consumers who want to use Dankort to pay for things online.
Dankort works in much the same way as any other debit card. At the point of sale, consumers enter their four-digit PIN code into a terminal or swipe it at checkout, and the amount of the purchase is automatically deducted from their bank account.
Unlike other debit cards, Dankort doesn't require consumers to have an account with a specific bank—it can work with any bank that's part of the Dankort Network (currently there are over 1,000 different banks in Denmark).
Dankort Network charges merchants 0%, 1%, 2% or 3% depending on how they want to set up their account. They also charge consumers 2% when using their Dankort card at merchants who are not part of the Dankort Network; otherwise, they charge consumers nothing.