The Bank of Finland, together with the central banks of Denmark, Iceland, Norway and Sweden, has published a joint report reviewing payment systems and market infrastructure across the Nordic countries. The report concludes that digital payments are the main form of payment across the region, while patterns of use differ markedly by country. The analysis highlights that differences in payment habits and the availability of local payment solutions drive variation in the mix of credit transfers, card payments and mobile payments. As the only euro area member, Finland is described as the most integrated into European infrastructures, but the report notes Finland is in an unfavourable position on alternatives to international card payments, particularly for in-store payments. It also finds growing use of device manufacturers’ wallet applications for point-of-sale payments, with considerable cross-country variation, and bases its assessment largely on 2024 data.
Bank of Finland 2025-12-12
Bank of Finland and Nordic central banks publish report on payment systems as digital payments dominate but national differences persist
The Bank of Finland, with central banks from Denmark, Iceland, Norway, and Sweden, released a report on Nordic payment systems and market infrastructure. It highlights digital payments as predominant, with significant country-specific variations in payment habits and local solutions. Finland, while integrated into European infrastructures, faces challenges with alternatives to international card payments, especially for in-store transactions.