Nordic Countries Lead in Contactless Payments Adoption

Published 7 months ago

Consumers in Finland, Denmark, Sweden, and Norway are spearheading the global transition to cashless and mobile payment methods. Surveys indicate that nine out of every ten Nordic consumers use contactless payments.

Denmark Tops Contactless Payments

Among the Nordic nations, Denmark stands out as the clear leader. Research from payments firm Nexi Group revealed that 96% of Danish consumers use contactless methods, and 94% of card payments in the country are made contactlessly.

Swedish Consumers Embrace Digital Payments

Swedish consumers, on the other hand, are the most supportive of digital payments in general. Half of Swedes reported never paying with cash.

Nexi’s research sources included the firm’s own payment data for the four Nordic countries and annual surveys of at least 1,000 consumers from each market.

According to Lars Erik Tellmann, Chief Regional Officer for Nexi in the Nordics, the trend is driven by consumers wanting to use their mobile phones as wallets, carrying everything digitally. Contactless payments provide a secure and seamless experience for consumers, facilitating newer payment methods like SoftPOS.

Finland Increases Contactless Payment Limit

Among the quartet, Finland was identified as the ‘laggard,’ with only 10% of its population entirely refusing to use cash. However, this figure is expected to rise rapidly. From January 1, Finland will increase the contactless payment limit without a required PIN to €50, a move predicted to boost adoption and accelerate the shift away from cash.

Related news