Paytrail

Mobile payments growth is accelerating in Finland - see the latest figures

Mari Oksanen Written by Mari Oksanen - Jun 29, 2017

Mobile payments have long been debated. Consumer behavior has radically changed over the last year and a half. I reviewed our data on mobile payments from more than 10,000 Finnish ecommerce companies and services.

Developments in mobile payments from 2012-24.5.2017

Shopping is increasingly being completed on the phone. Last year, 18.38% of payments were made on mobile devices compared to the early part of 2017, which shows mobile payments steadily increasing (23.67%). Meanwhile, online shopping via tablets has stopped or even faded away. Completed purchases using a tablet is at 8.26%. Together, phones and tablets comprise of almost 32% of the payments. Below you can find the figures on mobile payments.

  Desktop Tablet Mobile
2012 97,57% 1,49% 0,94%
2013 92,72% 4,60% 2,68%
2014 86,84% 8% 5,16%
2015 81,86% 8,81% 9,33%
2016 72,66% 8,96% 18,38%
1.1.2017-24.5.2017 68,06% 8,26% 23,67%

 Paytrail-mobiilimaksamisen-kehitys-2012-2017-225912-edited.png

How does the market respond to mobile payment growth?

Using a mobile phone to pay with traditional payment methods is not quite as easy as it could be. Consumers are accustomed to very easy and simple apps, which don't require tapping and different steps. Fortunately, many have seen the light and developed a variety of mobile payment methods that are also available for online shopping. Of these, MobilePay is now available with us in the same package as other payment methods.

In addition to MobilePay, Siirto is in development, which enables the consumer to shop online and use their bank's mobile payment app to make a payment (if the bank is a part of Siirto).

In the field, there will certainly be a rush of new and different payment methods, but this will only be an intermediate step. Consumers don't want an excessive amount of payment methods and are likely to use only one or two different payment apps. It will be interesting to see what consumers will prefer and what payment methods will become the so called winning horses.

More useful articles about payments in Finland

2016 ecommerce figures from Finland

33 % of online store purchases are cancelled due to the absence of a preferred payment method

4 points to consider when changing your online store’s payment service provider

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