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Payment Organisation
Automatia (ATM network); Finnish Bankers Association.
Finance Finland (FFI).
Domestic Card Brand
None.
Market Structure
Sophisticated market with high level of card use.
Cards with combined debit/credit functions for domestic and international use respectively. As at end-2019, 89% of all cards were contactless cards.
Numbers of ATMs and cash withdrawals have been declining.
The Finnish banks divested from interbank organisation Luottokunta. Prior to that, Luottokunta’s issuer and acquirer business was transferred back to the individual Finnish banks.
NETS, the Pan-Nordic processor, acquired Luottokunta in August 2012 – Luottokunta was rebranded as NETS Oy.
In January 2014, SEB Kort bought the EuroCard corporate card business from NETS Oy.
In June 2015, Nordea Group sold its merchant acquiring business to the acquirer unit Teller of NETS, its card processor.
Emerging Open Banking ecosystem.
Notable Market Trends
Contactless rollout: cards and POS terminals, MPOS terminals, HCE NFC pilots, mobile wallet Pivo, immediate payment service Siirto.
STATISTICAL KEY FIGURES FOR 2019 PROVIDED IN THIS PROFILE:
• UPDATED: tables with card business data 2015-2019; growth rates: Y-o-Y, CAGR
• Population, Cards per Capita, Card Value per Capita
• Debit Cards, Credit/Delayed Debit Cards, Total Cards
• Card payments by number and by value, ATV per card, payments per card/year
• ATMs, POS terminals, ATMs/POS terminals per 1 million capita
• ATM withdrawals by number/by value, ATV per withdrawal, TXs per ATM/month
• POS payments by number/by value, ATV per POS payment, TXs per POS/month
• Internet Use, e-payment mix, B2C e-Commerce by value and growth rate
• Issued Card brands by individual major issuer bank
• Accepted card brands by individual major acquirer
• Drill down into the debit card use and credit cards use details
PRODUCT INFORMATION
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VERSION
1.1 last updated 19th January 2021
