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What payment methods do Finns prefer in online stores?

Oct 2, 2025

Finnish consumers prefer bank card payments and online banking payments in e-commerce, accounting for over 80% of all online payments. MobilePay and other digital payment methods are gaining popularity, especially among younger age groups. Traditional invoice payments and cash on delivery retain their position in certain customer segments. The diversity of payment methods is crucial for the success of e-commerce.

What payment methods are Finnish people's favorites when shopping online?

Bank card payments dominate Finnish online shopping, accounting for approximately 60% of all payment methods. Visa and Mastercard are particularly popular due to their ease of use and security. Online banking payments follow in second place with about 25%, as Finns trust the payment solutions offered by their banks.

MobilePay has risen strongly to become the third most popular payment method, especially among younger consumers. Its share of all online payments has grown steadily and already exceeds 10% in many online retail categories. Apple Pay and Google Pay are also gaining popularity with the increasing prevalence of smartphones.

Traditional payment methods such as invoice and cash on delivery still retain their importance among certain customer groups. Older consumers and those making larger purchases often prefer invoice payments, while cash on delivery serves as a trust-building option for new online stores.

Why does the selection of payment methods affect the success of online commerce?

The availability of payment methods directly impacts purchasing decisions and conversion rates . Studies show that consumers abandon their shopping carts if their preferred payment method is unavailable. A diverse range of payment options significantly reduces shopping cart abandonment and improves the customer experience.

Different age groups and customer segments have clear preferences regarding payment methods. Younger consumers expect modern mobile payment solutions, while older customers value familiar and secure bank payments. Offering the right payment methods demonstrates customer understanding and builds trust.

The smoothness of the payment process also affects customer satisfaction and the likelihood of repeat purchases. Fast and secure payment methods improve the overall shopping experience, while slow or complicated payment processes can spoil an otherwise successful customer journey.

How does an online retailer choose the right payment methods for their target audience?

Target group analysis is the foundation of a payment strategy. Research your customers' age distribution, purchasing behavior, and technology usage. For online stores targeting young consumers, MobilePay and card payments are essential, while in B2B commerce, invoice payments are often the preferred choice.

Start with the essential payment methods: bank cards and online banking payments cover the majority of Finnish consumers. Then, add MobilePay, Apple Pay, or other digital options depending on your target group. Monitor payment method usage through analytics and optimize your selection based on the data.

Also consider the value and purchase frequency of your products when choosing payment methods. Small, recurring purchases benefit from fast mobile payments, while more expensive products may require more traditional payment methods to build trust. Test different combinations and measure their impact on conversion.

What payment trends should e-commerce merchants follow in the future?

Biometric authentication and smart payment solutions are rapidly becoming more common. Fingerprint and facial recognition make payments safer and faster. Buy now, pay later services like Klarna are growing in popularity, especially among younger consumers.

Cryptocurrencies and central bank digital currencies (CBDCs) could transform the payments landscape in the coming years. While their widespread adoption is still slow, it's worth monitoring developments and preparing for potential changes. Payment solutions using smartwatches and other wearable devices are also becoming increasingly common.

Purchasing and paying through voice assistants is growing as smart speakers become more common. Social media payment solutions, such as Instagram Shopping and TikTok Shop, offer new opportunities, especially for online stores targeting young consumers. Stay up-to-date on these trends and assess their applicability to your own business.

Payment methods are evolving rapidly, and successful online merchants stay ahead of the curve by offering their customers up-to-date and secure payment options. Monitor your customers' behavior and be prepared to experiment with new solutions to maintain a competitive edge.

Brancoy toimitusjohtaja Samuli Ala-Kasari mustassa hupparissa.

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