A year with big changes for physical merchants

Nordic Payment Report 2022

In the report, you will get an overview of how consumers spent their money in 2021 and the first half of 2022, as well as payment method preferences for Nordic consumers. You will get an insight into the short-term effects of the pandemic and prospects for the future. In addition to deep dives in the various categories such as transport and restaurants, you can read about new payment methods like biometric payments and consumers’ attitude towards this shift.

The Nordic countries are champions in contactless payments

Contactless payments are increasing in the Nordic countries in general – as 91% of consumers pay contactless. Denmark is the leading country in contactless payments and in the absolute top globally. In Denmark, 90% of total card payments were contactless at the end of 2021 – with the other countries not far behind.

Travel-app is a popular payment method when travelling

The pandemic was possibly the most static period in modern times. International students abroad came home, the home office became the norm and holidays abroad felt like a distant dream. Consequently, the transport category noted its worst year in 2020. Naturally, we see an increase in 2022, as we have finally started to travel again.

Cash is no longer the preferred payment method in the Nordic countries when travelling, not even in taxis. Almost half of all Nordic consumers would rather use travel-apps when paying for their transport service. Sweden is the Nordic leader with 43 %.

Click and collect is a popular trend

As everyday life has become busier again, we appreciate simple, fast, and comfortable solutions when we shop. This includes omnichannel solutions. One popular omnichannel solution is click and collect – where we purchase goods in the comfort of our own home and pick it up in store. Or perhaps you have purchased something online and would like to return it in the store. Norwegian consumers are the biggest fans of this trend, and as many as 69 % uses this solution. The value of offering a seamless journey for customers is only going to increase – and retailers must therefore be prepared to meet these needs.

Download the Nordic Payment Report 2022

Fill in the form to download the report and get an insight into how consumer preferences and behaviour has developed over the past year. As a business owner, you can use the insights to be able to meet your customers’ expectations to an even greater extent and create loyalty among existing customers.

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