Top Payment Gateways in Finland that You Need to Know

Finland is a market leader in online and mobile banking services. Finns prefer online banking and other contactless modes of payment (cards, digital wallets, BNPL) for purchasing online. So, businesses looking to sell in Finland must integrate the best payment gateways to offer preferred payment gateways and a seamless customer experience.

In this blog, we'll list the top 10 payment gateways you can rely on in Finland. In addition, we'll list a guide to help you compare different options and choose the right one based on your preferences.

Payment Landscape in Finland

Because of the ever-increasing use of smartphones and internet penetration, the eCommerce industry in Finland is growing. And all these factors are boosting the country's payments market, which is expected to show a growth rate of 4.67% within the 2022-2027 period. 

Where credit/debit cards dominate the Finnish payments market, digital wallets such as PayPal and Amazon Pay are not far behind. And not just that, alternative payment methods such as BNPL are also gaining popularity.

In a nutshell, the payment landscape in Finland is fairly digital and is expected to follow the same trend in years to come.

Best Payment Gateways in Finland

1. Rapyd

Rapyd allows you to accept payments from your Finnish customers through traditional and local payment methods. It's affordable and supports multiple currencies and geographies, making expansion easy. Here are some additional highlights:

Pricing and Other Fees:

• Charges on Refunds: N/A
• Setup Fee: N/A
• Monthly or annual Fee: N/A
• Commission per transaction: 2.9% + €.30 for non-European cards and 1.2% + €.25 for European cards.

Accepted Payment Methods:

• Credit/Debit Cards: Major cards are supported.
• Other methods: Bank transfers and virtual accounts are supported.

Supported Currencies: It supports all major currencies.

Approvals and Onboarding Time: N/A.

eCommerce Platform Integration: Offers integration with major eCommerce and CRM platforms such as:

• WooCommerce 
• Wix
• Magento
  
  

2. Adyen

Another well-known payment gateway in Finland is Adyen. It offers numerous payment methods, including Mobile Pay: a digital wallet in Finland, and the online banking platform Trustly. Adyen also has fraud prevention tools so that you can expect secure transactions. Here are some key highlights about Adyen:

Pricing and Other Fees:

• Setup Fee: None
• Annual Fee: N/A
• Monthly Fee: None
• Refund Fee: Depends on the payment method used.
• Commission per transaction: €0.11 per transaction + a variable payment method fee.

Accepted Payment Methods:

• Credit/Debit Cards: Major debit and credit card brands are supported.
• Other methods: Other methods include Op-Pohjola, Nordea, and more.

Supported Currencies: It supports all major currencies.

Approvals and Onboarding Time: N/A.

eCommerce Platform Integration: Offers integration with major eCommerce and CRM platforms, including:

• Vue Storefront
• Big Commerce
• WooCommerce
  
  

3. 2checkout

2Checkout (now Verifone) is a leading payment provider popular globally and in Finland. It offers numerous global and local payment methods to personalize the checkout experience. Here are some key highlights of 2checkout:

Pricing and Other Fees:

• Setup Fee: Free
• Annual Fee: N/A
• Monthly Fee: None
• Charges on Refunds: N/A
• Commission per transaction: 3.5% + $0.35 for a successful transaction.

Accepted Payment Methods:

• Credit/Debit Cards: All popular credit and debit card brands are supported.
• Other methods: Skrill, PayPal, PO, Apple Pay, Pohjola, Bank Transfer, Nordea, and more.

Supported Currencies: It supports 100+ currencies.

Approvals and Onboarding Time: N/A.

eCommerce Platform Integration: Integrates with numerous platforms, including:

• WooCommerce
• Shopify
• BigCommerce
  
  

4. MONEI

Offering you a range of payment methods and a customizable checkout experience, MONEI is an ideal payment gateway for businesses in Finland. It's reliable and has a 95% approval rate, essential for a good customer experience. Here are some highlights about MONEI:

Pricing and Other Fees:

• Setup Fee: Free
• Daily fee: €0.10 
• Charges on Refunds: €17.00
• Commission per transaction: 0.15% - 1.19% + €0.24*
• Interchange Fee: 0.1% for Visa, Diners Club International, Mastercard, and Discover cards.

Accepted Payment Methods:

• Credit/Debit Cards: Major cards are supported.  
• Other methods: Supports alternative payment methods such as Apple Pay, Google Pay, PayPal, BNPL, and more.

Supported Currencies: It supports all major currencies.

Approvals and Onboarding Time: N/A.

eCommerce Platform Integration: Offers integration with major platforms, including:

• Saleor
• Magento
• Spreedly
• Shopify

5. Authorize.net

Whether you want to accept one-off or recurring payments, Authorize is your go-to payment gateway. It's secure, affordable, and offers numerous brand integrations making it easy to integrate. Here are the additional features it provides:

Pricing and Other Fees:

• Setup Fee: None
• Monthly fee: $25
• Annual Fee: N/A
• Charges on Refunds: N/A
• Commission per transaction: 2.9% + 30¢

Accepted Payment Methods: 

• Credit/Debit Cards: Supports all major card brands.
• Other methods: Supports Apple Pay, eCheck, PayPal, and more.

Supported Currencies: It supports all major currencies.

Approvals and Onboarding Time: N/A.

eCommerce Platform Integration: Offers integration with a range of platforms, including:

• BigCommerce
• Magento
• WooCommerce
  
  

Good Read: Top 10 Payment Gateway in Denmark Your Business Needs to Know

6. Revolut

Revolut is an affordable payment gateway and is easy to integrate. It charges no hidden fee and allows you to customize your checkout experience. Here are some more highlights about Revolut:

Pricing and Other Fees:

• Setup Fee: N/A
• Charges on Refunds: N/A
• Monthly Fee: N/A
• Annual fee: N/A
• The commission per transaction: 1% + €0.20 for European cards and 2.8% + €20 for global and commercial cards

Accepted Payment Methods:

• Credit/Debit Cards: Major cards are supported.
• Other Payment Methods: APMs such as Google Pay and Apple Pay are supported. 

Supported Currencies: It supports all major currencies.

Approvals and Onboarding Time: N/A.

eCommerce Platform Integration: Offers integration with major eCommerce and CRM platforms such as:

• WooCommerce
• OpenCart
• Magento
  
  

7. Skrill

Skrill is a secure payment gateway that offers competitive pricing to businesses in Finland. It supports 40+ currencies and is easy to integrate. Here are some key highlights of Skrill: 

Pricing and Other Fees:

• Setup Fee: None
• Annual Fee: None
• Monthly Fee: None
• Charges on Refunds: N/A
• Commission per transaction: 1.25% for international cards.

Accepted Payment Methods: 

• Credit/Debit Cards: All major debit/credit cards, such as MasterCard, Discover, Visa, American Express, etc., are accepted.
• Other methods: Several alternative payment methods, such as Paysafecard, Trustly, and more, are accepted. 

Supported Currencies: It supports around 40 currencies.

Approvals and Onboarding Time: N/A.

eCommerce Platform Integration: Offers integration with a range of eCommerce platforms, including:

• WooCommerce
• Wix
• BigCommerce
• Magento
  
  

8. Braintree

Braintree is part of PayPal's family, which is why it's one of Finland's most trustworthy payment gateways. It allows you to automate backed processes and detect and mitigate fraudulent transactions. Here are some additional features of Braintree:

Pricing and Other Fees:

• Setup Fee: None
• Monthly Fee: None
• Annual Fee: N/A
• Charges on Refunds: N/A
• The commission per transaction: 1,9% + €0,30

Accepted Payment Methods:

• Credit/Debit Cards: All popular credit and debit card brands are supported
• Other methods: Wallets such as Apple Pay and Google Pay are supported

Supported Currencies: It supports all major currencies.

Approvals and Onboarding Time: N/A.

eCommerce Platform Integration: Integrates with numerous platforms, including:

• BigCommerce
• 3dcart
• WooCommerce 
• Primer
  
  

9. Stripe

Stripe is a complete payment platform used by businesses across the globe, including Finland. It has numerous payment options and other features, including fraud prevention, auto reconciliation, and recurring billing. Here are some highlights about Stripe:

Pricing and Other Fees:

• Setup Fee: None
• Annual Fee: None
• Monthly Fee: None
• Charges on Refunds: N/A
• Commission per transaction: 1.5% + €0.25 for European cards and 2.5% + €0.25 for U.K. cards. 

Accepted Payment Methods:

• Credit/Debit Cards: Supports all major credit and debit card brands.
• Other methods: Supports payment methods such as SEPA, Debit, iDEAL Alipay, and more.

Supported Currencies: 135+ currencies supported.

Approvals and Onboarding Time: N/A.

eCommerce Platform Integration: Offers integration with major platforms, including:

• Shopify
• NetSuite
• WooCommerce
  
  

10. Worldline

If you want an innovative payment gateway that manages in-store, online, omnichannel, and even cross-border payments, Worldline is for you. Worldline is easy to integrate and convenient to work with as it has a single transparent fee, report, and contract. Here are some key highlights of Worldline:

Pricing and Other Fees:

• Setup Fee: N/A
• Monthly Fee: N/A
• Charges on Refunds: N/A
• Annual Fee: N/A
• Commission per transaction: N/A

Accepted Payment Methods: Over 150 global and local payment methods are supported.

Supported Currencies: 140+ currencies are supported

Approvals and Onboarding Time: N/A.

eCommerce Platform Integration: Offers integration with major eCommerce platforms.

How to Choose the Best Payment Gateway in Finland?

• Supported Currencies: The first thing to look for in a gateway is the currencies it supports. While most gateways will support Euro, look for the one with maximum currency support. This will help you expand your services in multiple geographies without restructuring your tech stack.
• Payment Options: Look for a payment gateway that supports all the payment methods preferred by people in Finland, from credit and debit cards to digital wallets and BNPL. If your gateway supports more gateways on top of these, it'll help you cater to the needs of a broader range of customers.
• Market Integration: Ensure your chosen gateway is easily integrated with your website. Let's say your website was built using WordPress. If the gateway supports integration with WordPress, you can accept payments instantly. It'd also be a big plus if it integrates with your accounting software.  
• Security: Look for a secure payment gateway that is PCI-DSS compliant, follows government data privacy guidelines, and has fraud prevention tools in place. This will help you offer an additional level of security to your customers.
• Pricing and Other Fees: Carefully add all the fees you'll incur with each payment gateway you compare. Calculate the average fee per transaction and evaluate if that's something you can easily afford.
• Reliability: All in all, your payment gateway should be reliable. After all, it's responsible for accepting and managing payments. And reliability includes:

1. Easily approachable customer support.
2. Fraud mitigation team.
3. Data analytics tools.
4. 100% Uptime.
5. High Authorization Rate.
   
   

Why Shouldn't Businesses Rely on a Single Payment Gateway?

You can always integrate a single payment gateway to get started, but it can create problems down the line. Here's how:

• The gateway might hike its fees overnight, which you'll have to endure to keep the business running.
• In case of downtime, you'll have no option but to let your business suffer.
• Due to limited currency and payment method support, expansion could become a challenge.

However, you can tackle these challenges by opting for a payment aggregation solution like inai. 

How Can Inai Help?

Being a payment aggregation solution, inai can help you integrate not one or two but 30+ payment gateways enabling you to offer 300+ payment methods. Using inai's dashboard, you can add or remove payment gateways and payment methods at your convenience. This way, you can:

• Switch to another payment gateway if the existing one hikes its fees.
• Route transactions through a more viable option in case of downtime.
• Add more gateways and methods when looking to expand.

So, that's how inai's aggregation solution helps deal with the above challenges. But that's not it. inai also comes with analytics and fraud prevention tools. You can analyze your payments, make data-driven decisions, and deliver a secure payment experience.