Finland’s most customer-focused online payment expert
- Paytrail is Finland’s leading online payment company, trusted by over 20,000 businesses to manage their e-commerce payment processing
- Our growing team of around 75 industry experts is dedicated to building secure, seamless payment experiences
- Headquartered in Jyväskylä, we also operate offices in Tampere and Helsinki
- In 2024, our turnover was 46,7 million euros
- Paytrail also powers the online payment infrastructure for the Finnish State Treasury’s Suomi.fi Payments service
From startup to growth company — building the foundation of Finnish e-commerce
Back in 2007, retail was still dominated by brick-and-mortar stores, and Finnish e-commerce was just getting started. While working with online businesses, Lennu Keinänen and Niko Lehtonen saw firsthand the challenges of integrating multiple payment methods into online stores.
Lennu began to imagine a better way — what if all payment methods could be accessed through a single partner and one agreement, without the need to integrate each one separately? He pitched his innovative idea to bank executives and payment providers. Despite initial skepticism, he successfully secured their support.
Meanwhile, Niko developed the first version of the platform. When they tested it with online businesses, the response was clear: there was real demand, the solution worked, and the timing couldn’t have been better.
By early 2008, the team had grown to five people. With a strong shared vision and a culture of collaboration, Suomen Verkkomaksut Oy began its journey as a growth company — laying the groundwork for online payments in Finland.
Meanwhile at Checkout
Around the same time, Checkout founder Joose was building an automated settlement solution for a client — and found himself exploring the same challenges as Lennu and Niko.
What began as a simple text message–based payment concept quickly evolved. Like Lennu, Joose met with banks across the country and successfully integrated online banking for all the banks into the first version of the Checkout Finland service.
Fierce competitors driving change in Finnish e-commerce
At the time, both Paytrail and Checkout were working intensively — though independently — to solve the same challenge. Especially in those early days, it wasn’t uncommon to hear doubts: could such a radically new approach really work, especially when it involved moving money?
Resources were tight. Being a fintech startup in those days wasn’t easy, even with the industry’s clear potential. But both companies stayed focused, confident in their vision, and pushed their services forward with determination.
As Paytrail and Checkout grew, so did their teams — along with deep, hands-on knowledge of e-commerce and online payments. Customer numbers surged, and both companies experienced exponential growth. In many ways, we became each other’s strongest drivers of progress.
Each company stuck to its chosen strategy — and that commitment paid off. There were standout successes along the way, even if growth came with its share of challenges.
Who we are today
Our united team brings together some of the top professionals in e-commerce — with deep, hands-on experience and unmatched expertise in the online payments industry.
We remain deeply committed to helping our customers succeed and driving the growth of Finnish e-commerce. Our goal is to share our unique expertise, continuously evolve, and deliver meaningful value to merchants, consumers, and partners — while leading the way in payment technology. We have more momentum than ever to make that happen.
Built in Finland, trusted by thousands
Over the years, we’ve developed Finland’s most widely used and feature-rich domestic payment service.
With one agreement, Finnish online stores get access to the broadest selection of payment methods and value-adding features — all in one place.