Despite Finland making up only 1% of the EU population, more than 2% of the cashless operations in the EU are carried out in Finland, according to an infographic published on europeanpaymentscouncil.eu site.
Cards and credit transfers are highly popular in Finland. Nearly 3% of card payments are made in Finland, and 3.2% European credit transfers are Finnish, which, when compared to the country’s small population, demonstrates the Finns’ appetite for these payment methods.
The number of Finnish ATMs has diminished by more than 20% since 2012, and cash withdrawals decreased by 16%. This is a further sign that Finland is well-positioned to go cashless.
E-invoicing is popular in both Business-to-Business (B2B) and Business-to-Consumer segments in Finland. Two thirds of consumers receive e-invoices through their online bank (typically for electricity, phone bills, etc.). In the B2B segment almost 80% of all invoices are electronic.
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