Penetration rate of mobile POS payments in Finland 2017-2029

Data provided by Statista Market Insights are estimates.

Definition:

The Mobile POS Payments market refers to transactions made on any connected device to process transactions at the point of sale. This analysis essentially includes digital wallets, an application that securely stores payment information and allows consumers to make purchases of goods and services without carrying cash or cards. Digital wallets mainly run on mobile devices, but can also be accessed from a computer. The payment is made by a contactless interaction of the wallet application with a suitable payment terminal belonging to the merchant, allowing consumers to pay for goods and services. The data transfer is made via wireless standard NFC (Near Field Communication) or by scanning a QR code to initiate the payment. Users pay for a purchase via a digital wallet application by triggering an online bank transfer or by using a digitally stored credit or debit card (Host Card Emulation). Digital wallets are becoming increasingly popular as they allow businesses to offer more flexible and convenient payment options for customers, and can also help to reduce costs and improve efficiency.

Additional Information:

Key players in this market are ApplePay, Google Wallet and Samsung Wallet.