Finland payment cards market: Growth to 17 million cards by 2017

Press release   •   Apr 24, 2013 09:21 BST

Despite having one of the smallest populations in the Eurozone, Finland is ahead of the rest of Europe in terms of card awareness and usage levels. It has the highest usage of card payments in terms of transactions per inhabitant, with the average usage per capita exceeding that of the UK and the Netherlands. Younger consumers are more comfortable with various types of electronic payment methods, and typically use more than one payment method when paying at the point of sale (POS), although debit cards are the predominant method.

The overall card industry exhibited nominal growth during the review period (2008–2012) at a CAGR of 3.86%, rising from 13.7 million cards in 2008 to 15.6 million in 2012. The industry is expected to register slight growth over the forecast period with a CAGR of 1.64%, rising from 15.9 million cards in 2013 to 17.1 million in 2017. Growth in the Finnish cards and payments industry is expected to be driven by growth in the retail industry, increasing demand for prepaid cards, a better regulatory framework, an increasing market for online and mobile commerce, and a positive economic outlook.

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