The ‘Finland Cards and Payments: Opportunities and Risks to 2029' 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 cash, card, credit transfer, direct debits, and cheques during the review-period (2020-24e).
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 (2025f-29f). It also offers information on the country's competitive landscape, including market shares of issuers and schemes.
The report brings together the analyst’s research, modeling, and analysis expertise to allow banks and card issuers to identify segment dynamics and competitive advantages. The report also covers detailed regulatory policies and recent changes in regulatory structure.
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 (2025f-29f). It also offers information on the country's competitive landscape, including market shares of issuers and schemes.
The report brings together the analyst’s research, modeling, and analysis expertise to allow banks and card issuers to identify segment dynamics and competitive advantages. The report also covers detailed regulatory policies and recent changes in regulatory structure.
The ‘Finland Cards and Payments: Opportunities and Risks to 2029' 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, credit and charge cards.
- Detailed insights into payment instruments including cash, card, credit transfer, direct debits, and cheques. 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, credit and charge cards.
- Comprehensive analysis of consumer attitudes and buying preferences for cards.
- The competitive landscape of the Finnish cards and payments industry.
Key Highlights
- Finland is one of the most-developed contactless card markets in the Nordic region, with the majority of consumers using contactless cards. The prevalence of contactless cards is poised to expand further as they become integrated into public transportation services. In January 2025, the Suomenlinna ferry initiated a pilot phase; introducing a contactless payment option. This innovation allows passengers to purchase tickets at designated card readers situated on the ferry piers. Travelers have the convenience of simply tapping their debit or credit card against the reader or utilizing their cell phones to complete transactions through digital wallets, such as Google Pay and Apple Pay.
- Retailers are expanding their physical presence in Finland or entering the market for the first time. For instance, in January 2025, the Finnish retail chain Tokmanni partnered with Spar International to launch Spar grocery stores in Finland. Similarly, in April 2024, the Swedish hardware store Clas Olson’s launched its store in the City of Oulu in Finland. In November 2024, the official Apple partner C&C launched its first physical store in the capital city Helsinki.
- The entry of international players further drove mobile wallet adoption in the country. In October 2022, Samsung Wallet extended its operations to 13 markets, including Finland. It enables users to make contactless in-store payments; the service also supports online payments. Currently, Samsung Wallet is only supported by Skandinaviska Enskilda Banken AB (SEB), Morrow Bank, and Curve, in Finland. Users can store payment card and loyalty card details within the mobile wallet. Users can scan the front of a card with the app or enter the card details manually.
Scope
- Card market size in terms of number of cards, value and volume of transactions in Finland along with detailed card segmentation of debit, credit and charge cards available in the country.
- Market sizing and analysis of major payment instruments including cash, card, credit transfer, direct debits, and cheques.
- Payment market trends and growth for both historical and forecast period
- Competitor analysis with detailed insights into leading card issuers and schemes.
- Comprehensive analysis of consumer attitudes and buying preferences for cards.
- A detailed snapshot of country's key alternative payment brands.
Reasons to Buy
- Make strategic business decisions, using top-level historic and forecast market data, related to the Finnish cards and payments industry and each market within it.
- Understand the key market trends and growth opportunities in the Finnish cards and payments industry.
- Assess the competitive dynamics in the Finnish cards and payments industry.
- Gain insights into marketing strategies used for various card types in Finland.
- Gain insights into key regulations governing the Finnish cards and payments industry.
Table of Contents
1. Executive Summary2. Market Overview
3. Payment Instruments
4. Card-Based Payments
5. Merchant Acquiring
6. Ecommerce Payments
7. In-Store Payments
8. Buy Now Pay Later
9. Mobile Payments
10. P2P Payments
11. Bill Payments
12. Alternative Payments
13. Payment Innovation
14. Job Analysis
15. Payment Infrastructure and Regulation
16. Appendix
List of Tables
- Key facts, 2024
- Benchmarking of payment cards, 2024
- Payment instrument transaction values (LCU), 2020-28f
- Payment instrument transaction values ($), 2020-28f
- Payment instrument transaction volumes (units), 2020-28f
- Payment cards in circulation by type (units), 2020-28f
- Volume of payment card transactions (units), 2020-28f
- Value of payment card transactions (LCU), 2020-28f
- Value of payment card transactions ($), 2020-28f
- Debit cards in circulation (units), 2020-28f
- Debit card transaction volumes, 2020-28f
- Debit card transaction values (LCU), 2020-28f
- Debit card transaction values ($), 2020-28f
- Debit cards in circulation by scheme (units), 2020-24e
- Debit card transaction values by scheme (LCU), 2020-24e
- Debit card transaction values by scheme ($), 2020-24e
- Debit cards in circulation by issuer (units), 2020-24e
- Debit cards transaction value by issuer (LCU), 2020-24e
- Debit cards transaction value by issuer ($), 2020-24e
- Credit and charge cards in circulation (units), 2020-28f
- Credit and charge card transaction volumes, 2020-28f
- Credit and charge card transaction values (LCU), 2020-28f
- Credit and charge card transaction values ($), 2020-28f
- Credit and charge cards in circulation by scheme (units), 2020-24e
- Credit and charge card transaction values by scheme (LCU), 2020-24e
- Credit and charge card transaction values by scheme ($), 2020-24e
- Credit and charge cards in circulation by issuer (units), 2020-24e
- Credit and charge cards transaction value by issuer (LCU), 2020-24e
- Credit and charge cards transaction value by issuer ($), 2020-24e
- Credit cards in circulation (units), 2020-28f
- Credit card transaction volumes, 2020-28f
- Credit card transaction values (LCU), 2020-28f
- Credit card transaction values ($), 2020-28f
- Credit cards in circulation by scheme (units), 2020-24e
- Credit card transaction values by scheme (LCU), 2020-24e
- Credit card transaction values by scheme ($), 2020-24e
- Credit cards in circulation by issuer (units), 2020-24e
- Credit cards transaction value by issuer (LCU), 2020-24e
- Credit cards transaction value by issuer ($), 2020-24e
- Charge cards in circulation (units), 2020-29f
- Charge card transaction volumes, 2020-29f
- Charge card transaction values (LCU), 2020-29f
- Charge card transaction values ($), 2020-29f
- Charge cards in circulation by scheme (units), 2020-24e
- Charge card transaction values by scheme (units), 2020-24e
- Charge card transaction values by scheme ($), 2020-24e
- Inflation rate
- GDP growth rate
- Payment instruments transaction value and volume
- Instant payments transaction value and volume
- Card penetration
- Card payments by value
- Debit card frequency of payments and average transaction value
- Debit card schemes transaction value and volume
- Debit card issuers by number of cards and transaction value
- Credit card frequency of payments and average transaction value
- Credit card schemes transaction value and volume
- Credit card issuers by number of cards and transaction value
- Credit card debt
- Prepaid Cards: Market Sizing and Forecasting
- Contactless card holding and usage in detail
- E-commerce transaction value and ecommerce breakdown by mobile vs. desktop/laptop
- Ecommerce market by product and services
- Ecommerce market by paymnet tools
- Factors driving in-store payments and In-store transaction value by payment method
- In-store transaction value by products and services
- BNPL service used in the last six months and Preferred BNPL brand/tool for in-store payments
- BNPL online transaction value and transaction volume
- BNPL share of overall ecommerce transaction value and preferred BNPL brand/tool for online payments
- Mobile wallet holding and use by demographic
- Mobile wallet funding methods, mobile wallet preference by product/service and mobile wallet ownership by brand
- Domestic and international P2P money transfers
- Paymnet tool preference for bill payment and bill paymnet frequency
- Active jobs intensity in the country
- Number of POS terminals and ATMs
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- OP Bank
- S-Pankki
- Nordea
- Danske Bank
- Saastopankki
- Aktia Bank
- Bank of Aland
- Svenska Handelsbanken
- Visa
- Mastercard
- American Express
