Nordic Payment Report 2020

A year of change for physical stores

Nets Nordic Payment Report is an annual report on payments and related topics for merchants. The content is based on a consumer survey conducted in four Nordic countries (Sweden, Norway, Denmark and Finland), Nets’ own data from card transactions and knowledge from Nets’ experts. The main focus is on payments in physical stores, as Nets publishes a separate comprehensive report on Nordic e-commerce. Nordic Payment Report is published by Nets’ Merchant Services business unit.

The main elements of this year's report

The pandemic had disastrous consequences for transactions in physical stores

E-commerce decreased, while the pressure on physical stores increased

Payments in physical environments have progressed

We are getting closer to potentially becoming a cashless society

Digital payments were given another boost

Payment cards consolidated their position in 2020

Patrick Höijer, CCO and Country Manager Nets Sweden, summarises the year

The coronavirus pandemic radically changed the landscape for transactions in physical stores in 2020. The pandemic was a major blow and changed not only where consumers spent their money, but also how they made their purchases. It also accelerated the development that has been taking place in payments.

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