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Nordic Payment Report 2023
Nordic Payment Report, published by Nets, is an annual report on payments and related topics for merchants provides an overview of how we in Sweden – as well as Denmark, Norway and Finland – shopped and paid in physical points of sale.
In addition to various trade categories such as shops, grocery stores, restaurants, cafés and more, the report also takes a deep dive into the payment methods cards, cash and mobile payments. You can also read about related payment topics such as biometric authentication, digital receipts and loyalty solutions.
Almost half of the consumers in Sweden never use cash
Once again, the share of consumers who never use cash is clearly the highest in Sweden at 46 percent, a considerable increase from last year’s 27 percent. Norway is following close behind at 40 percent. In Denmark, about one third of the consumers now never use cash, and in Finland the figure is 10 percent.
Mobile payments are increasing strongly in all Nordic countries
The proportion of Nordic consumers who use mobile payments at physical points of sale has increased steadily in recent years, and is now more than 50 percent in all the countries. Sweden and Denmark are clearly in the lead, with around eight out of ten using this payment method. The increasing popularity of Swish and Apple Pay is definitely a contributing factor, as is MobilePay’s success in Finland.
96 % of Danes pay contactless
Denmark is the world champion in contactless payments. The country was the first Nordic nation with a broad adoption and at the end of 2022, the share of all card payments made contactless was 93 percent. For the first half of this year, the share increased a little bit to an astounding 94 percent.