Number of downloads of MobilePay in Finland 2019-2024

After peaking at nearly 646,100 downloads in 2020, the number of downloads declined, reaching a total of 296,167 downloads by November 2024. Despite this decrease, MobilePay remains the most downloaded payment app in Finland, outpacing competitors like PayPal Zettle and paysafecard.

Changing consumer preferences

While MobilePay maintains its position as a leading e-commerce payment brand in Finland, other options like Apple Pay have gained traction. Apple Pay adoption for in-store payments increased significantly between 2020 and 2024, with four out of ten Finnish respondents reporting its use at point-of-sale locations. The overall trend in Finland points to a growing acceptance of mobile payments. Between 2018 and 2024, the usage of mobile devices at point-of-sale locations more than doubled, increasing from 10 percent to 27 percent of respondents.

Future growth and market dynamics

The mobile payment market in Finland shows signs for continued expansion. Forecasts predict that the penetration rate of mobile POS payments will increase by 12.3 percentage points between 2024 and 2029. Additionally, the transaction value in this segment is expected to grow by 7.9 billion euros, representing a 77.76 percent increase from 2024 to 2028. These projections suggest that while individual app preferences may shift, the overall mobile payment ecosystem in Finland is poised for substantial growth in the coming years.