Accepting payments in Finland means entering an e-commerce market that's on a steady growth trajectory. E-commerce revenue in the country is projected to climb to US$9.53 billion by 2029. But despite its similarities with other European markets, the Finnish payment environment requires special considerations regarding local payment methods, payment security frameworks, and cross-border transactions.

Below, we’ll explain what businesses that plan on expanding into Finland need to consider, including:

• Committing to mobile

• Embracing digital checkout features

• Staying up-to-date on EU payment regulations

The state of the market

Finland's payments infrastructure mirrors that of its Nordic neighbours in many ways. Cash usage is dwindling, credit and debit card payments are standard, and mobile payments have been widely adopted. As an EU member state that uses the euro, Finland's B2C and B2B markets are deeply intertwined with the rest of Europe.

The Bank of Finland, Finland's central bank, oversees the nation's financial operations and stability. Key responsibilities include implementing the European Central Bank's monetary policy, supervising payment systems, and guaranteeing financial stability. On the regulatory front, the Finnish Financial Supervisory Authority (FIN-FSA) supervises and regulates financial market participants, ensuring they function efficiently, reliably, and in the best interest of customers.

Payment methods

With a steady rise in the adoption of electronic payment methods, the demand for cash transactions has waned. Here are some popular payment methods in Finland.

Current usage

In the first quarter of 2026, Finnish payment cards were used for 590 million card payments worth €17.8 billion, with contactless payments accounting for 45% of that value – overtaking chip and swipe payments for the first time. Debit cards remain more common than credit cards in Finland, with roughly 9.34 million debit cards in circulation in 2025 compared with 5.44 million credit cards.

Card payments are the most frequently used electronic payment method in Finland by volume. Meanwhile, credit transfers (bank transfers) carry far greater total value, reflecting their use for larger payments such as bills, salaries, and business transactions.

The widespread adoption of mobile payments like the Danish app MobilePay and the Finnish app Pivo further demonstrates customers' trust in digital payments. In 2022, MobilePay announced a merger with the Norwegian app Vipps to create Vipps MobilePay, and a unified app was released in 2024. The rise of mobile payment apps has coincided with the rise of e-commerce. In the second quarter of 2025, 125 million card payments were carried out on a computer or mobile device in Finland – a 19% increase from the same period the previous year.

Popular B2C payment methods in Finland

• Credit and debit cards
  
• Mobile payments (e.g., MobilePay)
  
• Bank transfers (e.g., Siirto)
  
• Buy now pay later (BNPL) payments (e.g., Klarna)
  

Popular B2B payment methods in Finland

• Credit cards
  
• Bank transfers
  
• Direct debits
  

Emerging trends

Electronic invoicing (e-invoicing) is becoming standard in Finland. In 2019, legislation passed that requires government entities to accept only e-invoices that comply with the European e-invoicing standard. In 2025, the European Commission formally adopted the VAT in the Digital Age (ViDA) initiative, which will make e-invoicing mandatory for intra‑EU B2B transactions in July 2030. Although e-invoicing isn't yet required for all of these transactions in Finland, it's becoming more common. Companies with annual turnovers of over €10,000 have the right to request e-invoices in B2B transactions.

Ease and friction of entry

Expanding your business into Finland involves unique considerations regarding taxes, payment disputes, international payments, and payment security regulations. Here's an overview.

Taxes

Finland's value-added tax (VAT) is set at a standard rate of 25.5% for most goods and services, with reduced rates of 13.5% and 10.0% for items such as food and books. While customers experience VAT as an added cost on their purchases, businesses bear the responsibility of collecting this tax and remitting it to the Finnish Tax Administration. Improper remittance can lead to penalties.

Chargebacks and disputes

Finnish customers have the right to contest card charges, especially if they haven't authorised a transaction. If a product or service isn't delivered as promised, they can request a chargeback. Businesses are usually required to present substantial evidence to refute these claims.

Strong Customer Authentication (SCA) requirements generally work in businesses' favour here: when a payment has gone through proper two-factor verification, it's harder for a customer to successfully dispute a charge as unauthorised since that verification serves as evidence the customer approved the transaction. Liability also shifts accordingly. If a business correctly applies this authentication and a customer still disputes the charge, the burden of proof falls more heavily on the customer or their card issuer. But a business that skips SCA when required can find itself liable by default for related fraud claims.

International payments

Finland adopted the euro in 1999, which simplified cross-border trade within Europe. Yet for businesses that accept non-euro international transactions in Finland, it's important to understand the role currency conversion and multicurrency features play.

• Multicurrency options
  For businesses that support international customers, it's helpful to offer multicurrency features that allow customers to see prices in their local currencies.

• Currency conversion
  Currency conversion rates are typically based on the interbank rate, the exchange rate at which major banks exchange currencies, and are marked up between 1% and 3% for other customers. Stripe offers currency conversion services, making it convenient for businesses to accept international payments.

• SEPA transfers
  As an EU member state, Finland belongs to the Single Euro Payments Area (SEPA) zone, which facilitates fast, inexpensive euro transfers between the other member countries. SEPA Credit Transfers in particular are commonly used for customer and business purchases within the SEPA zone. Alongside standard SEPA Credit Transfers, SEPA Instant settles euro payments within seconds and must be offered by eurozone banks. Verification of Payee is also required alongside it; it checks whether the payee name matches that of the account holder before an instant transfer goes through.

Security and privacy

Finland has established a reliable, rigorous framework regarding payment security, compliance, and regulations. Here's the rundown:

• Data protection laws
  The EU's General Data Protection Regulation (GDPR) forms the cornerstone of data protection in Finland. This regulation mandates that businesses acquire explicit consent from customers before collecting their data and gives customers the right to access, modify, or delete their personal information.

• Payments service regulations
  Finland adheres to the second Payment Services Directive (PSD2), a cornerstone of European payment regulations that focuses on enhancing competition in the payment industry while tightening security. PSD2 emphasises SCA and two-factor authentication, and payment-service providers in Finland are required to abide by these protocols.

• Anti-Money Laundering (AML) laws
  Finland has strict laws regarding AML and Countering the Financing of Terrorism (CFT). Drawing from the EU's AML directives, Finnish financial institutions must set up complete systems that detect, monitor, and report potential money laundering activities. These AML obligations extend to Know Your Customer (KYC) checks during onboarding: banks and payment providers in Finland are required to verify a business's identity, activity, and beneficial ownership before they open an account or activate payment processing. They might request supporting documentation such as business registration details and proof of address. Businesses should expect this verification step as a standard part of getting set up, and delays in providing the required documentation are a common reason onboarding takes longer than expected.

• Digital authentication
  TUPAS is a Finnish electronic identification service that many banks in Finland use for SCA during online transactions. The use of TUPAS has been key in building trust among Finnish customers who shop online or access other digital services.

• Regulatory agencies' roles
  Finland’s FIN-FSA is in charge of the country’s financial markets, overseeing their stability and transparency.

Key success factors

While Finland's payment market demonstrates efficiency and improvement, challenges persist. Addressing these issues requires a combination of technological advancement, regulatory awareness, and a commitment to enhancing customers' experiences. Here are some ways businesses that operate in Finland can position themselves for success:

• Mobile payment methods
  Mobile payment apps and digital wallets are ubiquitous in Finland. While businesses can benefit from offering a wide range of payment options both in-store and online, mobile payments should always be available.

• Enhanced user experience
  Finns are generally proficient in English, but providing translations in Finnish (or Swedish in certain regions) can show that you value your customers and have put thought into making their checkout experiences as smooth as possible.

• Simplified cross-border transactions
  Because Finland uses the euro and belongs to the SEPA zone, cross-border payments within Europe are simpler. To take advantage of this system, ensure your payment gateway can accept SEPA transfers. Businesses based elsewhere in the EU or European Economic Area (EEA) generally don't need to set up local Finnish entities just to accept payments from Finnish customers; a payment provider licensed to operate across the EU can process these transactions on your behalf. That said, other obligations, such as Finnish VAT registration once certain sales thresholds are exceeded, might still apply regardless of whether you have a local entity.

• Strong fraud detection protocols
  While Finland's rate of payment disputes remains relatively low compared to global averages, it's still an area of concern for businesses. To mitigate CNP fraud, it's worth deploying fraud detection and prevention tools (e.g., 3D Secure authentication) for online payments.

Key takeaways

By recognising and catering to Finnish payment trends and preferences, businesses can create a payment experience that resonates with local customers and stands out in the market. But this requires a thoughtful, long-term vision that considers payment security frameworks, suitable payment gateways, and localised customer support. Here's a recap, as well as tips to help your business succeed in the Finnish payment market.

Commit to mobile

• Incorporate digital wallets
  MobilePay, a Danish mobile payment app, is gaining traction in Finland, alongside local digital wallets like Pivo. By accommodating these platforms, which are favoured for their quick transaction times, you can provide more convenient payment methods for Finnish customers.

• Consider bank transfers
  Customers use bank transfers to quickly send money from their phones. You'll want to equip your business to accept these transfers so you avoid inconveniencing this subset of customers.

• Upgrade payment interfaces
  Your business’s payment pages should be updated to give mobile customers the best possible experience.

Embrace digital checkout features

• Support e-invoices
  E-invoicing is becoming standard in Finland for B2B transactions. Be prepared to send and receive invoices electronically.

• Invest in local language support
  A localised checkout process in Finnish can make the user experience more intuitive for customers. Take the time to translate your payment and customer support pages.

• Offer currency flexibility
  Neighbouring countries such as Norway and Denmark don't use the euro so offering the option to pay in their currencies could boost conversion rates. Support international customers who want to pay in their home currencies by providing multicurrency features in your payment interfaces.

Stay up to date on EU payment regulations

• Monitor VAT changes
  Finland's specific VAT regulations can change, especially with regard to digital services. Update your business's systems regularly to reflect current VAT rates and avoid fines.

• Use two-factor authentication
  Businesses that operate in Finland need to use payment-service providers that follow SCA protocols for two-factor authentication as outlined in the second Payment Services Directive (PSD2). PSD3, along with the companion Payment Services Regulation (PSR), has been finalised by the EU and will eventually replace PSD2, likely tightening SCA and fraud prevention requirements further. Businesses should expect to update their authentication controls again once it takes effect.

• Prioritise data protection
  Ensure your business's payment systems adhere to GDPR rules. Transparent data handling and clear communication about how customer data is used can foster trust and improve the overall payment experience.

How Stripe Payments can help

Stripe Payments provides a unified, global payments solution that helps any business – from scaling startups to global enterprises – accept payments online, in person and around the world.

Stripe Payments can help you:

• Optimise your checkout experience: Create a frictionless customer experience and save engineering time with prebuilt payment UIs, access to 125+ payment methods, and Link, Stripe's consumer network.

• Expand to new markets faster: Reach customers worldwide and reduce the complexity and cost of multicurrency management with cross-border payment options, available in 195 countries across 135+ currencies.

• Unify payments in person and online: Build a unified commerce experience across online and in-person channels to personalise interactions, reward loyalty and grow revenue.

• Improve payment performance: Increase revenue with a range of customisable, easy-to-configure payment tools, including no-code fraud protection and advanced capabilities to improve authorisation rates.

• Move faster with a flexible, reliable platform for growth: Build on a platform designed to scale with you, with 99.999% historical uptime and industry-leading reliability.

Learn more about how Stripe Payments can power your online and in-person payments or get started today.