June 9, 2023


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Danish newspaper: MasterCard benefits from delaying Nordic IT's payment project

Danish newspaper: MasterCard benefits from delaying Nordic IT’s payment project

In 2019, six large Nordic banks merged into one New instant payment platform in Nordic and Euro countries, kalt P27.

The platform is an account-to-account platform developed by partners, based on Mastercard’s real-time payment platform.

Mastercard is the contractor for the large P27 IT project, which will create a payment highway in the North. The P27 mega payment project, launched in 2017 by the largest Nordic banks, has been postponed several times. Now the complex project is not expected to be completed before Easter 2025.

One of the players who will benefit from this is Mastercard, writes the Danish online newspaper Computerworld.dk.

Network Business Acquisition

After MasterCard Grabbing parts of the Nets that took place this spring, MasterCard has also secured the Danish payment service Betalingsservice.


  • A consortium of Danske Bank, Nordea, SEB, Handelsbanken, Swedbank and the Finnish OP Financial Group. In 2019, Digi.no wrote that the consortium attempted to include DNB in ​​the collaboration, but the Norwegian bank refused. But five of the banks that cooperate on P27 have operations in Norway, so Norwegian users will be on an equal footing with other residents of the Nordic region.
  • The number 27 is also due to the fact that there are 27 million people in the Nordic region. The goal is nothing less than to build a payment network that is the most advanced, innovative and efficient payment system in the world. They will connect users in the Nordic region with a regional payment zone which will also be able to pay throughout the Eurozone.
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The Danish newspaper wrote that when Danish consumers and businesses pay more than 1 billion kroner annually for Betalingsservice and P27 is delayed for several years, it could provide lucrative profits for Mastercard.

The base price is now 4.32 DKK per transaction for Betalingsservice, and although the krone must be returned to the banks, it is a golden egg that Mastercard has obtained, Jan Damsgaard, a professor at Copenhagen Business School (CBS), tells Finances Borsen, According to Computerworld.

Mastercard has an interest in going slower than it would have done otherwise. The payment service is just a cash cow that keeps making money. The old payment solution is clearly much more profitable than a futuristic one, says Jan Damsgaard of Bursen.

cheap solution

The Nordic P27 Late Project is planned to have a built-in bill payment function that makes paying bills much cheaper.

What we’re building now is a cross-platform payment service that works across national borders. CEO Lars Sjögren told Digi.no in 2019 that working with Mastercard and us means we can do this very inexpensively.

In 2019, Betalingsservice processed 250 million transactions, Computerworld.dk writes.

Mastercard has not been interviewed by the Danish newspaper, but writes to her in an email that they are very concerned about the speedy implementation of the P27 project.