Finland Cards and Payments Market Opportunities and Risks to 2025, featuring Key Players OP Bank, S-Bankki, Nordea, Danske Bank and Saastopankki – ResearchAndMarkets.com

DUBLIN–(BUSINESS WIRE)–The “Finland Cards and Payments – Opportunities and Risks to 2025” report has been added to ResearchAndMarkets.com’s offering.

The report provides detailed analysis of market trends in the Finnish cards and payments industry. It provides values ​​and volumes for a number of key performance indicators in the industry, including cards, credit transfers, cash, direct debits and checks during the review-period (2017-21e)

The report also analyzes various payment card markets operating in the industry and provides detailed information on the number of cards in circulation, transaction values ​​and volumes during the review-period and over the forecast-period (2021e-25f). It also offers information on the country’s competitive landscape, including market shares of issuers and schemes.

This report provides top-level market analysis, information and insights into the Finnish cards and payments industry, including:

  • Current and forecast values ​​for each market in the Finnish cards and payments industry, including debit and credit cards

  • Detailed insights into payment instruments including cards, credit transfers, cash, direct debits and checks. It also, includes an overview of the country’s key alternative payment instruments

  • Ecommerce market analysis

  • Analysis of various market drivers and regulations governing the Finnish cards and payments industry

  • Detailed analysis of strategies adopted by banks and other institutions to market debit and credit cards

Report Scope

  • The rising adoption of contactless payments during the review period drove overall card payments. According to a survey commissioned by Finanssiala (the Finnish Association of Financial Services Providers) between February and March 2021, 97% of contactless card holders made contactless payments using their card. 45% of respondents made contactless payments daily while 43% did so on a weekly basis. Meanwhile, in November 2021, Hameenlinna Regional Public Transport Authority enabled open-loop contactless payments on the city’s public transport system in collaboration with transit payment services provider Littlepay. Commuters can make payments by tapping their contactless payment card or mobile wallet on contactless readers installed on buses. Hameenlinna became the fourth city to enable open-loop contactless payments after Helsinki, Tampere, and Oulu

  • The proliferation of digital-only banks will further support debit card market growth. In January 2022, Revolut launched its banking services in the country. It offers individual and business accounts along with a Mastercard-branded debit card. Meanwhile, digital-only bank SweepBank launched in Finland in September 2021. Customers receive a virtual Mastercard debit card immediately after opening the account. By the end of December 2021, over 30,000 Finnish consumers had opened an account with SweepBank

  • The share of consumers who have a mobile wallet stood at 44.9% in 2021e, up from 37.0% in 2020. This indicates that Finnish consumers are gradually becoming more comfortable using mobile phones for payments, coupled with rising awareness of the benefits of mobile wallets. Banks such as Norwegian Bank and Aktia Bank launched their support for Google Pay in 2020. Amid the COVID-19 outbreak, PayPal launched a QR code-based mobile payment service in May 2020. The mobile proximity payments market is expected to grow further, as a rising number of merchants are accepting mobile wallet solutions. In June 2021, MobilePay partnered with national alcoholic beverage retailer Alko to enable MobilePay acceptance at its online store and over 360 physical stores in the country

Key Topics Covered:

  • Executive Summary

  • Market Overview

  • Payment Instruments

  • Card-Based Payments

  • Ecommerce Payments

  • Buy Now Pay Later

  • Mobile Payments

  • P2P Payments

  • Bill Payments

  • Alternative Payments

  • Payment Innovations

  • Job Analysis

  • Payment Infrastructure and Regulation

Companies Mentioned

  • OP Bank

  • S-Bankki

  • Nordea

  • Danske Bank

  • Saastopankki

  • Aktia Bank

  • Handelsbanken

  • Bank of Aland

  • Visa

  • Mastercard

  • American Express

  • Klarna

  • AfterPay

  • Divido

  • PayPal

  • MobilePay

  • Google Pay

  • Apple Pay

  • Pivo

  • paysafecard

For more information about this report visit https://www.researchandmarkets.com/r/wwipyg

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