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Finland's online stores have broken all previous records with a quickly growing e-commerce society. Last year, Post – Finnish postal agency – delivered 37 million packages as over half of their population shops online.
96% of Finland's population between 25 and 44 log on daily and 92% of its entire population is online.
Their annual e-commerce is estimated to reach over €13 billion by 2019. The average user currently spends about €1780 annually online.
Finland's unique banking and spending habits create an e-commerce environment that requires alternative payment options to satisfy their population of 5.5 million.
100% of their population is banked; however, only 63% of Finland's population has a credit card. Finland also has a commitment to being a cashless society and is the first country in the world to oblige telecom companies to provide a universal service of 1mbps to each permanent residence or office.
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This may explain Finland's 92% internet user rate; whereas, Europe as a whole only reports a rate of 78%.
"We saw a need in Finland for alternative payment options for them to transact internally and externally. 40% of Finland money is spent with foreign stores, and this banked but cashless society needs ways to pay online that are simple and secure - this is where we come in," says Allied Wallet CEO Andy Khawaja.
44% of Finland's e-commerce transactions are by bank transfer. Allied Wallet saw this growing demand for bank transfer payments and is now compatible with Trustly (https://cts.businesswire.com/ct/CT?id=smartlink&url=https%3A%2F%2Ftrustly.com%2Fen%2F&esheet=51904989&newsitemid=20181127005164&lan=en-US&anchor=Trustly&index=2&md5=403ddad2647ecf68f7efcf2d2e7a4527) and Verkkopankki to provide more options for users.
Allied Wallet is also now accepting Zimpler (https://cts.businesswire.com/ct/CT?id=smartlink&url=https%3A%2F%2Fwww.zimpler.com%2F&esheet=51904989&newsitemid=20181127005164&lan=en-US&anchor=Zimpler&index=3&md5=b4cb32b354d545ad9292e234aafad639) and MobilePay to support the growing demand for eWallet payments online in Finland.
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The most popular online industries in Finland are books, electronics, and fashion. Fashion is #1 with about €1.2 billion of the market share.
With online purchases in the tens of billions of euros and nearly all of its population online, it's important for businesses to make sure they can accept payments from shoppers in Finland.
Allied Wallet proudly announced these new supported payment options this week as part of their goal to connect more buyers and sellers and eliminate fraud 100% worldwide.
About Allied Wallet:
Allied Wallet continues to revolutionize the e-commerce industry by introducing new and innovative payment processing solutions for online merchants, enabling them to send and receive global payments. With PCI compliant merchant services for nearly any business size, Allied Wallet provides a state-of-the-art payment gateway to optimize online transactions. Please visit www.alliedwallet.com/ (https://cts.businesswire.com/ct/CT?id=smartlink...).
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