The Cards and Payments Industry in Finland: Emerging Trends and Opportunities to 2020

Synopsis

Timetric's 'The Cards and Payments Industry in Finland: Emerging Trends and Opportunities to 2020' report provides detailed analysis of market trends in the Finnish cards and payments industry. It provides values and volumes for a number of key performance indicators in the industry, including direct debits, check payments, payment cards, cash transactions and credit transfers during the review period (2011-2015).

The report also analyzes various payment card markets operating in the industry, and provides detailed information on the number of cards in circulation, and transaction values and volumes during the review period and over the forecast period (2016-2020). It also offers information on the country's competitive landscape, including the market shares of issuers and schemes.

The report brings together Timetric's research, modeling, and analysis expertise to allow banks and card issuers to identify segment dynamics and competitive advantages. The report also covers details of regulatory policy and recent changes in the regulatory structure.
Summary

Timetric's 'The Cards and Payments Industry in Finland: Emerging Trends and Opportunities to 2020' report provides top-level market analysis, information and insights into the Finnish cards and payments industry, including:

• Current and forecast values for each market in the Finnish cards and payments industry, including debit and credit cards.

• Detailed insights into payment instruments including direct debit, credit transfers, cash transactions, checks and payment cards. It also, includes an overview of the country's key alternative payment instruments.

• E-commerce market analysis.

• Analysis of various market drivers and regulations governing the Finnish cards and payments industry.

• Detailed analysis of strategies adopted by banks and other institutions to market debit and credit cards.

• Comprehensive analysis of consumer attitudes and buying preferences for cards.

• The competitive landscape in the Finnish cards and payments industry.
Scope

• This report provides a comprehensive analysis of the Finnish cards and payments industry.

• It provides current values for the Finnish cards and payments industry for 2015, and forecast figures to 2020.

• It details the different demographic, economic, infrastructural and business drivers affecting the Finnish cards and payments industry.

• It outlines the current regulatory framework in the industry.

• It details marketing strategies used by various banks and other institutions.
Reasons To Buy

• Make strategic business decisions, using top-level historic and forecast market data, related to the Finnish cards and payments industry and each market within it.

• Understand the key market trends and growth opportunities in the Finnish cards and payments industry.

• Assess the competitive dynamics in the Finnish cards and payments industry.

• Gain insights into marketing strategies used for various card types in Finland.

• Gain insights into key regulations governing the Finnish cards and payments industry.
Key Highlights

• Contactless technology is gaining acceptance among Finnish consumers, and issuers are introducing cards enabled with contactless technology to gain a market share in the cards and payments industry. At the end of 2015, there were three million contactless cards in Finland, and this is expected to more than double by the end of 2020. The latest initiatives in contactless payments include the collective introduction of MasterCard-branded contactless cards by Euroloan Consumer Finance and Compass Card in August 2015, and the MasterCard Bankkontokort debit card with contactless functionality by alandsbanken in 2014. In addition, the Finnish telecommunications company Elisa and convenience store chain R-Kioski began selling pre-loaded near-field communication (NFC) payment stickers in April 2014, featuring MasterCard's PayPass technology.

• To capitalize on the fast-growing mobile payments (m-payments) market, an increasing number of retailers are allowing customers to make payments by mobile phone. OP-Pohjola Group launched a mobile wallet app, Pivo, in March 2015. The wallet uses Host Card Emulation (HCE) technology to emulate a card on an NFC-enabled device to make contactless payments. This service is available for holders of Visa Debit and Visa Electron cards. Since May 2014, the Finnish hamburger chain Hesburger has allowed customers to make payments and redeem reward points by using the Seqr mobile app, which was developed by the Swedish company Seamless.

• In line with Nordic regional trends, Finland has made significant progress towards becoming a cashless society, as several companies and government offices in Finland have abandoned the use of cash. The National Land Survey of Finland stopped accepting cash in two customer service branches in North Karelia during January-April 2013; the primary reason for this was to save costs, as cash deposits needed to be sent to the bank once or twice daily. As the trial was successful, the National Land Survey of Finland stopped accepting cash in all branches in Central and Southern Finland, and Pirkanmaa-Satakunta. Similarly, Aurinkomatkat, one of Finland's largest travel agencies, has terminated cash payments in its service offices.