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Nordics Case Study

We predict that the Nordics will be the first markets in the world to fully realise digital transformation in payments.

  • Digital transformation (nearly) complete?

    The Nordic markets of Sweden, Denmark and Norway have the highest penetration of electronic transactions anywhere in the world. The Nordics’ leadership position becomes clear – as coupled with this level of electric transactions – is a functioning, consumer-permissioned digital ID system known as BankID that makes Know Your Customer (KYC) compliance for e-commerce much easier.

  • National wallet schemes and “super-apps”:

    Since 2015, the Nordic markets have also wholeheartedly embraced digital wallet solutions. Therefore, as digital wallets rise and cards continue to be used for a very wide range of purchases, these markets will continue to seek opportunities to reduce cash use for everyday, low-value purchases such as parking, street vendors and others. This is going to create room for mPOS and soft POS systems providers, as well as multi-function card products.

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