The analyst's ‘Finland Cards and Payments: Opportunities and Risks to 2028' 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, cash, credit transfer, direct debits, and cheques during the review-period (2019-23e).
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 (2024-28). 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.
Detailed insights into payment instruments including cards, cash, 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.
Contactless payments are on the rise in Finland, driven by increased promotion by banks and scheme providers. All of the country’s major banks now offer contactless cards. The declining use of cash and near-daily use of payment cards means the scope for contactless is significant. Contactless payments have also been integrated into public transport systems. For example, in February 2022, Helsinki Regional Transport 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 against readers installed on buses.
Rising adoption of mobile wallets is attributed to features such as user-friendly interfaces, diverse funding methods, and the convenience of eliminating the need for a physical wallet. In addition, many mobile wallets have varied use cases, such as in-store and online payments, P2P transfers, and bill payments. In October 2021, MobilePay partnered with the Finnish Government Shared Services Centre for Finance and HR (Palkeet) to enable MobilePay as a payment method for government agency bills.
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.
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 (2024-28). 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 analyst's ‘Finland Cards and Payments: Opportunities and Risks to 2028' 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 cards, cash, 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.
Scope
With the aim of providing an integrated cross-border payment system for the Nordics, in 2017, Danske Bank, Handelsbanken, Nordea, OP Financial Group, SEB, and Swedbank started collaborating to develop the P27 Nordic Payments Platform, with a solution planned to go live in 2023. However, in April 2023, P27 withdrew its clearing license application. The partner banks will now reassess the direction and scope of the initiative.Contactless payments are on the rise in Finland, driven by increased promotion by banks and scheme providers. All of the country’s major banks now offer contactless cards. The declining use of cash and near-daily use of payment cards means the scope for contactless is significant. Contactless payments have also been integrated into public transport systems. For example, in February 2022, Helsinki Regional Transport 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 against readers installed on buses.
Rising adoption of mobile wallets is attributed to features such as user-friendly interfaces, diverse funding methods, and the convenience of eliminating the need for a physical wallet. In addition, many mobile wallets have varied use cases, such as in-store and online payments, P2P transfers, and bill payments. In October 2021, MobilePay partnered with the Finnish Government Shared Services Centre for Finance and HR (Palkeet) to enable MobilePay as a payment method for government agency bills.
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
- Executive Summary
- Market Overview
- Payment Instruments
- Card-Based Payments
- Ecommerce Payments
- In-Store Payments
- Buy Now Pay Later
- Mobile Payments
- P2P Payments
- Bill Payments
- Alternative Payments
- Payment Innovations
- Job Analysis
- Payment Infrastructure and Regulation
- Appendix
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- Nordea
- OP Bank
- S-Pankki
- Danske Bank
- Saastopankki
- Bank of Aland
- SEB
- Aktia Bank
- Svenska Handelsbanken
- Visa
- American Express
- Mastercard
