Press Release: Finns Spend in Local Websites Not Foreign Ones – Paytrail joins the Billion Club

Suvi Tikkanen Written by Suvi Tikkanen - Oct 21, 2014

Finnish ecommerce is considered to be behind other countries, and it is claimed that consumers prefer to shop in foreign websites. The growth figures of the Finnish payment service provider Paytrail show a different view. that this is not entirely true, however.

Paytrail’s online payment service has been used to purchase products and services worth over one billion Euros. More than 90% of the payments made through Paytrail end up in Finnish online stores. The company’s payment service is used by more than 10,000 services.

Breaking the one billion mark in payments going through our service is huge for us and for Finnish ecommerce. We are very grateful and proud of this, states Paytrail CEO Markus Laurio.

Online sales in Finland are growing in spite of the difficult economic situation. Paytrail’s growth rate has been even faster than the industry average. This year, transactions made through Paytrail have increased by more than 30% compared to last year both in number and value. In terms of the value of transmitted payments, the company’s current annual growth rate is approximately 500 million Euros.
Laurio, who has his finger on the pulse of the ecommerce, shared

In light of these figures, the Finnish ecommerce industry is alive and kicking. And let’s not forget that Christmas, the busiest season in this business, is still ahead of us.

The Staggering Growth Figures of Mobile Payments

Paytrail’s payment statistics also reveal interesting information about the growth of mobile payments. Currently approximately 15% of the transactions in the company’s service are made using mobile devices (phones and tablets). Compared to last year, the share of tablets has grown by about 83% and the share of phones by a staggering 126%.

Mobile purchasing is rapidly ending the dominance of desktop and laptop computers as the tools for online shopping. This puts pressure on businesses in the industry to offer services highly optimized for mobile devices.

"We have only begun to see the developments in ecommerce. Mobile purchasing as well as the integration of the internet and the physical world will change how business is done in an unprecedented way", forecasts, ecommerce visionary and Paytrail founder, Lennu Keinänen. "When we started our payment service seven years ago, we could have never even dreamed of this", Keinänen reminisces.


  • Founded in 2007 as Suomen Verkkomaksut by Lennu Keinänen and Niko Lehtonen
  • Turnover in 2013: 4.5 million Euros
  • Personnel: around 40, headquarters in Jyväskylä
  • The company is an authorized payment institution
  • Paytrail handles payments for over 10,000 online stores/services
  • The company is considered to be a forerunner in Finnish ecommerce
Paytrail makes online buying and selling fun.

For more information, contact:

Markus Laurio, CEO Paytrail Oyj,, +358 40 840 3754

Lennu Keinänen, Founder Paytrail Oyj,, +358 44 776 7827

Suvi Tikkanen, Marketing Director Paytrail Oyj,, +358 40 562 8283

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