Verkkopankki

Finland is unique from a payment perspective because Finnish consumers prefer online bank payments to any other payment method. In 2014, 89% of Finns had access to internet broadband. In three years the Finnish e-commerce market has increased by almost a fifth and grew by 8.7% in 2013, meaning that Finnish consumers bought online goods and services worth 10.5 billion EUR (or an average of 1,900 EUR in 2013, whereas the European average is 1,600 EUR).

Among the strongest growing product categories are clothing, footwear, books, home electronics and pay - TV services. Computer and console games were also very popular, as they saw their sales rise by more than 60%. Sales of movie and music downloads grew by nearly 40%.

By integrating the Finnish online banking real-time bank transfer method, merchants offer the most popular alternative payment method in Finland.

By offering Finnish online banking, every Finnish consumer with a Finnish bank account can make payments online.

Fraud risk is low since the consumer logs directly into the bank’s online system and Finnish banks use TAN for additional security.