Finland has rapidly embraced digital payment methods, with their popularity growing every year. While traditional forms like cash and debit cards are still in use, digital alternatives have reshaped how transactions happen across the country.
You can see this change just by walking through any Finnish city. ATMs are becoming harder to find, and some stores and restaurants no longer accept cash at all. It’s clear that digital payments are becoming the norm.
Online Bank Payments Lead the Way
One thing that stands out in Finland’s digital payment landscape is how common direct bank payments are. Around 57% of all Finnish e-commerce transactions are completed using online banking. This trend is unique to Finland—many other countries still lean heavily on credit cards for online purchases.
In addition to online bank payments, Finland is home to several unique fintech companies like Tuohi, Euteller, and Trumo, which further support the growth of digital transactions.
Smartphones and Apps Driving Change
Smartphones have completely transformed how Finns make payments. With just a few taps, users can complete purchases without ever pulling out a physical wallet. Contactless payments have made the process even smoother, eliminating the need to insert a card into a terminal.
Apps like Google Pay and Apple Pay have become increasingly popular, allowing users to link their payment cards to a digital wallet. This means payments can be made directly from smartphones or even smartwatches.
Beyond phones, wearable devices like Fitbit and Garmin also support NFC payment technology, making it easier than ever for Finns to pay on the go.
Popular Payment Methods in Finland
Several digital payment options have risen to prominence in Finland. Online banking remains the most popular, especially for e-commerce. In 2023, more than half of all online purchases in Finland were made using bank transfers.
Mobile payments are also gaining ground. MobilePay has long been a favorite, but Apple Pay has caught up quickly among iPhone users. Meanwhile, Android users often turn to Google Pay, which now works with most Finnish banks.
For larger purchases, installment and invoice services like Klarna and Jousto are popular choices. Klarna, in particular, is widely used for fashion and electronics shopping.
What Does the Future Hold?
The digital payment scene in Finland shows no signs of slowing down. Biometric payment methods, such as fingerprint and facial recognition, are becoming more common. Mobile payments are expected to grow further as more stores and services adopt NFC technology.
While cryptocurrencies haven’t yet taken off as a mainstream payment option, they could gain traction if regulations become clearer and consumer trust increases.
Ultimately, Finland seems to be heading toward a nearly cashless society. As digital options continue to evolve, the days of carrying cash might soon become a distant memory.
