Finland
Finland, a Nordic country in Northern Europe, is renowned for its high standard of living, advanced technology sector, and strong economy. With a population of approximately 5.5 million, Finland’s diverse and well-developed economy thrives on key sectors such as information technology, telecommunications, forestry, manufacturing, and services. As a member of the European Union, Finland uses the Euro (€) as its official currency.
Finland’s economy is defined by innovation, competitiveness, and a strong education system that fuels its technology and industrial sectors. The country is home to leading tech companies, a vibrant startup ecosystem, and a robust digital economy. The services sector, including healthcare, education, and public administration, plays a crucial role in Finland’s economic growth.
After the COVID-19 pandemic, Finland’s economic recovery demonstrated remarkable resilience, with a GDP growth rate of 3.1% in 2022 and 2.2% in 2023, driven by domestic consumption, exports, and investments in green technology and infrastructure. In 2024, economic growth is expected to moderate to around 1.5% due to global market uncertainties.
Inflation in Finland peaked at 8.0% in 2023 but has since declined to 5.5%, with expectations to fall further to 3.5% in 2024 through central bank policies and interest rate adjustments. The unemployment rate remains stable at around 6.5%, supported by a resilient labor market and government initiatives.
Finland practices a prudent fiscal policy, emphasizing sustainable development, economic stability, and digital transformation. The government focuses on reducing public debt, maintaining balanced budgets, and investing in renewable energy, education, healthcare, and digital infrastructure. With a moderate debt-to-GDP ratio, Finland ensures long-term financial stability and economic resilience.
Top banks
Nordea Bank
Nordea Bank Finland is one of the largest banks in Finland, providing a wide range of banking and financial services for individuals, businesses, and corporate clients. Nordea offers personal banking, business accounts, loans, savings solutions, investment services, and digital banking, making it a trusted choice for comprehensive financial management in Finland.
OP Financial Group
OP Financial Group Finland is a leading financial services provider, offering a comprehensive range of banking products and services for individuals, businesses, and corporate clients. As one of the largest banks in Finland, OP Financial Group delivers retail banking, corporate banking, investment services, loans, savings solutions, and digital banking, making it a trusted partner for personal and business financial management in Finland.
Danske Bank
Danske Bank Finland is a leading financial institution in Finland, providing a wide range of banking, investment, and financial services to individuals, businesses, and corporate clients. With a strong market presence in Finland, Danske Bank delivers personal banking, business accounts, loans, savings solutions, and investment advisory services, establishing itself as a trusted choice for Finnish customers seeking reliable financial solutions.
Handelsbanken
Handelsbanken Finland is a leading financial institution in Finland, providing a wide range of banking and financial services for retail customers, businesses, and corporate clients. Known for its strong customer-focused approach, Handelsbanken offers personal banking, business accounts, loans, savings solutions, and investment services, making it one of the top banks in Finland.
N26
N26 is a leading German digital bank offering fully online banking services across Europe and the US. Known for its mobile-first approach, N26 provides checking accounts, savings tools, personal loans, and insurance with low fees, real-time notifications, and international money transfers. It supports cashless payments, fintech integration, and seamless digital banking, making it a top choice for tech-savvy customers seeking convenient, transparent, and innovative banking solutions. Regulated in multiple regions, N26 ensures secure mobile banking, efficient financial management, and enhanced user experience for personal and business clients.
Top payment methods
Paybybank
At checkout, when you select Pay by Bank as your online payment method, you can securely pay directly from your bank account. Simply choose your bank, which generates a secure payment link to authorize the transaction. Once authorized, you are redirected back to the checkout page. No card details, no account creation, and no personal financial information are shared, making Pay by Bank a safe, fast, and convenient online payment solution.
This digital banking payment solution is offered by PayOp, covering almost all of Europe and competing with top online payment providers in the e-commerce and fintech market.
Visa
Visa is the world’s largest global card network by transaction value, accepted almost everywhere. It’s known for secure, fast, and reliable payments, positioning itself as “the best way to pay and get paid by everyone.”
Mastercard
Mastercard is a global payments leader, dominating the co-branded card market in Europe and key countries like Brazil, Canada, and Germany. Known for secure, contactless, mobile, and digital payment solutions, Mastercard drives e-commerce, fintech, and online banking innovation worldwide.
ApplePay
Google Pay
Google Pay enables secure digital payments using stored credit or debit cards for online, in-app, and in-store purchases. It offers a fast, seamless checkout experience on Android devices and supports 3D Secure authentication for EU and UK-issued cards.
Concluding remarks
With high digital adoption, secure eCommerce payments, and the increasing use of digital wallets like Apple Pay, Google Pay, and PayPal, Finland’s financial ecosystem reflects a seamless blend of convenience and security. Supported by a prudent fiscal policy and a strong focus on sustainable development, Finland remains well-positioned for economic resilience, fintech growth, and digital transformation.
Cash (Käteinen)
Although digital payments in Finland are widespread, cash payments remain a commonly used payment method, especially for small transactions and in rural areas. Despite the growing popularity of online payment methods and contactless payments, cash in Finland continues to play a vital role in everyday transactions.
Credit and Debit Cards
The use of credit and debit cards in Finland is extensive, with major card networks like Visa, Mastercard, and American Express widely accepted across stores, restaurants, and online platforms. Contactless payments and digital payment methods are growing rapidly due to their convenience, speed, and security, supporting Finland’s shift toward a cashless economy.
Bank Transfers (Pankkisiirrot)
Bank transfers (Pankkisiirrot) in Finland are a widely used payment method for both individuals and businesses. They are commonly used for larger transactions, including real estate purchases, business payments, salary transfers, and utility bill payments. Finland’s banking system supports both domestic and international money transfers, providing a secure, fast, and reliable way to move funds. The growing adoption of online and digital banking platforms has made Pankkisiirrot increasingly convenient for managing financial transactions.
Mobile Payments
Mobile payments in Finland, including Apple Pay and Google Pay, are widely adopted by consumers for both in-store and online transactions. These digital payment methods offer fast, secure, and contactless payment options via smartphones and wearable devices, driving Finland’s transition toward a cashless society and digital economy.
Online Payment Platforms
Platforms like PayPal and Stripe are commonly used for eCommerce transactions. They provide secure and efficient ways to pay for goods and services online, supporting the growth of Finland's digital economy.
Prepaid Cards
Prepaid cards are popular among younger consumers and those without access to traditional banking services. These cards are often used for online shopping and daily expenditures.
Cryptocurrencies
Cryptocurrencies in Finland are gradually being adopted, especially among tech-savvy users and innovative businesses. The Finland crypto market is growing as the government develops a clear cryptocurrency regulatory framework to integrate digital currencies like Bitcoin and Ethereum into the national financial system. With a focus on compliance, security, and transparency, Finland is positioning itself as a leader in blockchain innovation and digital asset adoption within Northern Europe.
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