Market overview

Finland's payment market has the following characteristics:

Highly Digitalized: - Low cash usage, digital payments dominate - High adoption of mobile payments and digital wallets

Widespread Card Usage: - Debit cards are the most commonly used payment method - Contactless payments are common in daily transactions

E-commerce Development: - Diverse online payment solutions - Growing demand for cross-border e-commerce payments

Open Banking Ecosystem: - PSD2 drives financial innovation - Close collaboration between fintech companies and traditional banks

Regulatory Environment: - Compliant with EU Payment Services Directive (PSD2) - Focus on payment security and data protection

Internationalization Trend: - Popular international payment platforms like Apple Pay - Local payment solutions expanding in the Nordic region

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