Continuing to embrace digitalisation, new data released by Nets revealed a 6% increase in contactless card and in-app mobile card payments in the Nordics.
The provider of digital payments services outlined that eight out of every 10 card payments in the Nordics are now contactless. Overall, the region’s share of contactless transactions increased from 74% in 2020 to 80% in 2021.
Robert Hoffmann, Head of Merchant Services, Nets, commented: “The Nordic region is the most digitised in the world and certainly among the leaders in digital payments. Nordic consumers have adopted contactless as the standard way to use their payment card at physical sales locations and the pandemic has been a strong driver for these ‘tap and go’ payments. This is positive for merchants, who get a faster payment flow, as well as for consumers who can pay more conveniently and without physical contact with the payment terminal.”
Providing deeper insight into national trends, the ‘2021 Nets Nordic Payment Report’ further revealed that 90% of all card payments in Denmark were contactless. Closely followed by the Norwegian card holders of which 87% have chosen to go contactless. Finland’s performance shows an overall 71%. Sweden is trailing just a step behind with 70% – a significant rise in contactless payments compared to just 60% in 2020.
Moreover, seven out of 10 consumers living in the Nordics consider the importance of contactless payments to be high or very high, while around 90% of them use contactless on a regular basis.
All four Nordic countries have fixed the contactless card limit at €50, abiding to standard European Law. Using a mobile device on an NFC-supported payment terminal however has no transaction limit, as apps such as Apple Pay and Samsung Pay validate the purchase on the phone itself.
