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Pandemic accelerates contactless payment adoption in the Nordics, Nets says

Wednesday 6 May 2020 14:23 CET | News

US-based payments processor Nets has released transaction data showing that contactless payments in the Nordics increases by an unprecedented 12 percentage points.

 

In the first 16 weeks of 2019, contactless usage, as a proportion of all card transactions performed in Denmark, Norway and Sweden, increased by 5 percentage points from 40% to 45%, company data shows. In the same period in 2020 saw contactless volumes increase at more than twice this rate, growing by 12 percentage points from 57% to 69%. In Finland contactless payment adoption, as a proportion of all card payments, is 63.7%. 

Furthermore, the company points out that approximately four out of five card payments in the Nordics are ‘true contactless’ where no PIN code is entered. In Finland, it is not possible to use the contactless functionality if the purchase is above the amount limit of EUR 50. In the other Nordic countries, the consumer may use contactless functionality for transactions exceeding this value, but is asked to enter a PIN code to confirm the purchase.


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Keywords: Nets, Nordics, Denmark, Finland, Norway, Sweden, contactless payments, mobile payments, card payments, Europe
Categories: Payments & Commerce | Mobile Payments
Countries: United States
This article is part of category

Payments & Commerce