Suomen Pankki

Payment statistics 2019: Contactless card payments were Finns’ most popular means of payment at retail checkouts


A total of over three billion payments were made from Finnish bank accounts in 2019. Of this, approximately 65% was accounted for by card payments and approximately 35% by credit transfers; only 0.04% was accounted for by other payments [1]. In value terms, however, most of the money moved in credit transfers: in 2019, credit transfers amounted to EUR 2,747 billion, while EUR 54 billion was paid using cards. In 2019, the number of card payments grew by more than 6% from the previous year, and the use of the contactless payment function of cards, in particular, showed a significant increase following the raising of the upper limit of contactless payments to EUR 50 [2] in April 2019. The number of credit transfers made from Finnish accounts increased, in turn, by nearly 9% from 2018. As electronic payments continued to become more common, the use of cash declined further, which was reflected in, e.g. a decrease in the total value of cash withdrawals. During 2019, Finns withdrew cash to an estimated value of EUR 13.2 billion, which is 9% less than in the previous year.

Contactless payments exceeded card payments with a PIN code

In 2019, Finnish cards were used to make payments nearly two billion times, of which 94% were made at physical point of sale and 6% as remote payments online. During 2019, for the first time, more contactless payments were made than card payments with a PIN code: 913 million contactless payments were made, while there were 908 million payments made with a PIN code (Figure 1). Use of the contactless payment function of cards grew by 45% from the previous year. In addition, the value of purchases made by contactless payments nearly doubled from 2018, exceeding EUR 10 billion in 2019 (accounting for 20% of the total value of card payments). At the end of 2019, approximately 90% of payment cards were equipped with the contactless payment function.

Total value of e-commerce payments grew by nearly a fifth

In addition to contactless card payments, remote card payments also increased significantly. Remote card payments refer to card payments initiated using a computer or mobile device [3]. Their value grew by more than a third from the previous year to EUR 4.8 billion in 2019. Most online purchases, however, are still paid for with the online payment buttons provided by banks, i.e. by credit transfers authenticated with online banking IDs. Payments initiated with online payment buttons amounted to EUR 8.6 billion in 2019, which is 11% more than in the previous year. Based on these, the total value of payments made in e-commerce rose to EUR 13.4 billion in 2019, an increase of nearly 19% from 2018 (Figure 2). Of this, remote card payments accounted for approximately 36% and payments made by online payment button for approximately 64% [4]. The proportion of payments made by online payment button declined, however, by 5 percentage points from the previous year.

Finns withdrew over EUR 13 billion in cash

In 2019, an estimated EUR 13.2 billion in cash was withdrawn, i.e. an average of approximately EUR 2,400 per Finn. This is nearly 9% less than in the previous year. Most cash was withdrawn at ATMs: a total of EUR 10.9 billion in cash was withdrawn using cards issued in Finland, which accounted for 83% of all cash withdrawals (Figure 3). In addition, EUR 2.1 billion in cash was withdrawn at bank branches [5] and EUR 0.2 billion at retail checkouts in 2019. According to the Bank of Finland’s consumer survey, approximately 7% of Finns used cash as their primary means of payment for buying daily consumer goods in 2019, and approximately 9% stated that they used both cash and a card equally often.

As electronic payment methods and online purchases have become more common, cash withdrawals and, at the same time, use of cash have declined steadily in recent years. Next year’s payment statistics will show whether the coronavirus pandemic has contributed to strengthening this phenomenon. Cash is still used rather often, however, and for some consumers it is the only possible payment option, so the disappearance of cash is not yet in sight.

For further information, please contact:

Meri Sintonen, tel. +358 9 183 2247, email: meri.sintonen(at),
Jenna Björklund, tel. +358 9 183 2547,email: jenna.bjorklund(at)

[1] Other payments consist of direct debits, money orders/money transfers, cheques and e-money transactions.
[2] EUR 50 is the maximum amount currently approved by the European Banking Authority for a single contactless payment made using a card.
[3] Remote card payments include mobile payments other than those initiated with NFC technology, which are classified as contactless payments. Payment applications implemented with NFC technology include e.g. Apple Pay, Google Pay and the Finnish Pivo application.
[4] Remote card payments also include mobile payments not related to e-commerce, such as person-to-person payments. In reality, the value of e-commerce payments accounted for by card payments is therefore slightly lower than presented and, correspondingly, the share of payments made by online payment button is slightly higher than presented.
[5] Based on Bank of Finland calculations.



Figure 1: Number of card payments by payment type
Figure 1: Number of card payments by payment type
Figure 2: Value of e-commerce payments
Figure 2: Value of e-commerce payments
Figure 3: Cash withdrawals made by Finns in 2019
Figure 3: Cash withdrawals made by Finns in 2019


About Suomen Pankki

Suomen Pankki
Suomen Pankki
Snellmaninaukio, PL 160

09 1831

The Bank of Finland is the national monetary authority and central bank of Finland. At the same time, it is also a part of the Eurosystem, which is responsible for monetary policy and other central bank tasks in the euro area and administers use of the world’s second largest currency – the euro.

Subscribe to releases from Suomen Pankki

Subscribe to all the latest releases from Suomen Pankki by registering your e-mail address below. You can unsubscribe at any time.

Latest releases from Suomen Pankki

A total of 1,496 counterfeit euro banknotes found in Finland in 202022.1.2021 11:00:00 EETPress release

In 2020, a total of 1,496 counterfeit euro banknotes were detected among banknotes in circulation in Finland. The number of counterfeits was higher than in 2019 but is still low compared with other euro area countries. ‘The number of counterfeit euro banknotes found in circulation has increased from the previous year, but remains moderate,’ says Olli Vehmas, Banknote Specialist at the Bank of Finland. Of the different banknotes in circulation in 2020, the EUR 20 was the most frequently discovered counterfeit note (629 counterfeits) in Finland, followed by the EUR 10 (410 counterfeits) and the EUR 50 (358 counterfeits). ‘It is easy and quick to detect counterfeits by learning the banknote security features and always checking them when handling banknotes,’ says Vehmas. Period 2016 2017 2018 2019 2020 Number of counterfeits 2,171 766 833 980 1,496 The new series of euro banknotes, of which the last denominations, the EUR 100 and EUR 200 banknotes, were issued in 2019, help prevent counte

I Finland påträffades 1496 förfalskade eurosedlar under 202022.1.2021 11:00:00 EETTiedote

Bland de utelöpande sedlarna i Finland påträffades 1496 förfalskade eurosedlar under 2020. Mängden har ökat från förra året, men är fortfarande liten jämfört med det övriga euroområdet. ”Antalet förfalskade eurosedlar som påträffats i cirkulation har ökat jämfört med i fjol, men antalet är fortfarande lågt”, säger sedelexpert Olli Vehmas vid Finlands Bank. Bland de förfalskningar som påträffades under 2020 i Finland var valören 20 euro vanligast, totalt 629 st. Näst vanligast var valören 10 euro (410 st.) och 50 euro (358 st.). ”Det är lätt och snabbt att upptäcka förfalskningar genom att lära sig säkerhetsdetaljerna på sedeln och alltid kontrollera dem när man hanterar sedlar", berättar Vehmas. Period 2016 2017 2018 2019 2020 Antal förfalskningar 2171 766 833 980 1496 För att bekämpa förfalskningar ges en ny eurosedelserie ut. De sista valörerna av den nya eurosedelserien, 100- och 200-eurosedlarna, sattes i omlopp 2019. De övriga sedlarna har bytts ut redan tidigare. Tack vare säkerh

Vuonna 2020 Suomessa löytyi 1 496 euroseteliväärennöstä22.1.2021 11:00:00 EETTiedote

Suomessa setelikierrosta löydettiin vuoden 2020 aikana 1 496 euroseteliväärennöstä. Määrä on kasvanut viime vuodesta, mutta on edelleen muuhun euroalueeseen verrattuna vähäinen. ”Kierrosta löytyneiden euroseteliväärennösten määrä on kasvanut edellisvuoteen nähden, mutta lukumäärä on edelleen maltillinen”, sanoo seteliasiantuntija Olli Vehmas Suomen Pankista. Vuonna 2020 Suomessa kierrossa olleiden setelien joukosta löydettiin eniten 20 euron väärennöksiä, niitä oli yhteensä 629. Seuraavaksi eniten oli 10 euron väärennöksiä eli 410, ja 50 euron väärennöksiä oli 358. "Väärennösten havaitseminen on helppoa ja nopeaa opettelemalla setelin turvatekijät ja tarkistamalla ne aina seteleitä käsiteltäessä", Vehmas kertoo. Ajanjakso 2016 2017 2018 2019 2020 Väärennösten lukumäärä 2171 766 833 980 1496 Väärennöksiä ehkäistään uudella eurosetelisarjalla, jonka viimeisimmät, arvoltaan 100 ja 200 euron setelit laskettiin liikkeeseen 2019. Muut seteliarvot on uusittu jo aiemmin. Setelien turvatekijöis

ECB Press Conference 21.1.2021: Introductory Statement21.1.2021 16:36:58 EETPress release

PRESS CONFERENCE Frankfurt am Main, 21 January 2021 Introductory statement Ladies and gentlemen, the Vice-President and I are very pleased to welcome you to our press conference. We will now report on the outcome of today’s meeting of the Governing Council, which was also attended by the Commission Executive Vice-President, Mr Dombrovskis. The start of vaccination campaigns across the euro area is an important milestone in the resolution of the ongoing health crisis. Nonetheless, the pandemic continues to pose serious risks to public health and to the euro area and global economies. The renewed surge in coronavirus (COVID-19) infections and the restrictive and prolonged containment measures imposed in many euro area countries are disrupting economic activity. Activity in the manufacturing sector continues to hold up well, but services sector activity is being severely curbed, albeit to a lesser degree than during the first wave of the pandemic in early 2020. Output is likely to have co

EKP:n pääjohtajan alustuspuheenvuoro lehdistötilaisuudessa 21.1.2021 (suomenkielinen käännös)21.1.2021 16:36:00 EETTiedote

EKP:n pääjohtajan alustuspuheenvuoro EKP:n pääjohtaja Christine Lagarde EKP:n varapääjohtaja Luis de Guindos Frankfurt am Main 21.1.2021 Hyvät kuulijat. Varapääjohtaja ja minä toivotamme teidät tervetulleiksi tähän lehdistötilaisuuteen. Tämänpäiväisessä kokouksessa oli läsnä myös Euroopan komission johtava varapuheenjohtaja Valdis Dombrovskis. Kerromme nyt kokouksen tuloksista. Rokotusten käynnistyminen euroalueen maissa on tärkeä askel pois kansanterveydellisestä kriisistä, jossa tällä hetkellä olemme. Pandemiasta aiheutuu kuitenkin edelleen vakavia riskejä kansanterveydelle sekä euroalueen ja koko maailman taloudelle. Koronavirustartuntojen (covid-19) uusi aalto ja monissa euroalueen maissa asetetut tiukat ja pitkäkestoiset rajoitukset haittaavat taloudellista toimintaa. Tehdasteollisuuden toiminta jatkuu melko vakaana, mutta palvelualoilla toiminta on vaimentunut tuntuvasti, joskin vähemmän kuin ensimmäisen pandemia-aallon yhteydessä alkuvuodesta 2020. Tuotanto supistui todennäköise

Eurosystemets penningpolitiska beslut21.1.2021 16:05:00 EETTiedote Pressmeddelande 21 januari 2021 ECB-rådet beslutade att ånyo bekräfta sin mycket ackommoderande penningpolitiska inriktning. För det första förblir räntan på de huvudsakliga refinansieringstransaktionerna och räntorna på marginalutlåningsfaciliteten och inlåningsfaciliteten oförändrade på 0,00 %, 0,25 % respektive -0,50 %. ECB-rådet räknar med att ECB:s styrräntor ligger kvar på nuvarande eller lägre nivåer tills dess att inflationsutsikterna stadigt rör sig till en nivå som är tillräckligt nära, men under 2 procent, under bedömningsperioden och att en sådan konvergens på ett enhetligt sätt återspeglats i underliggande inflationsdynamik. För det andra kommer ECB-rådet att fortsätta med köpen inom ramen för PEPP-programmet (stödköpsprogram föranlett av pandemin), som sammanlagt omfattar 1 850 miljarder euro. ECB-rådet kommer att genomföra nettoköp inom PEPP åtminstone till slutet av mars 2022 och, i varje

EKP:n rahapoliittisia päätöksiä21.1.2021 16:05:00 EETTiedote

Lehdistötiedote 21.1.2021 EKP:n neuvosto päätti pitää vahvasti kasvua tukevan rahapolitiikan linjan ennallaan. 1) Perusrahoitusoperaatioiden korko on edelleen 0,00 %, maksuvalmiusluoton korko 0,25 % ja talletuskorko -0,50 %. EKP:n neuvosto odottaa ohjauskorkojen pysyvän nykyisellä tasolla tai sitä alempina, kunnes arviointijakson inflaationäkymät palautuvat vankasti riittävän lähelle kahta prosenttia (mutta alle sen) ja kehitys näkyy johdonmukaisesti myös pohjainflaatiossa. 2) Ostoja jatketaan pandemiaan liittyvässä osto-ohjelmassa (PEPP), johon on varattu 1 850 miljardia euroa. Pandemiaan liittyvässä osto-ohjelmassa tehdään netto-ostoja vielä ainakin maaliskuun 2022 loppuun saakka. Joka tapauksessa ostoja jatketaan, kunnes EKP katsoo koronaviruspandemian kriisivaiheen päättyneen. PEPP-ohjelman tarkoituksena on pitää rahoitusolot suotuisina pandemian aikana. Jos suotuisia rahoitusoloja voidaan ylläpitää suunniteltua pienemmillä ostoilla, PEPP-ohjelmaan varattua summaa ei tarvitse käytt

In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.

Visit our pressroom