In the last quarter of 2023, a total of 585 million card payments were made using Finnish payment cards, which was 32 million (6%) more than in the same period a year earlier. The aggregate value of card payments amounted to EUR 17.7 billion in the last quarter, which was 6% more than a year earlier.
The aggregate value of contactless payments declined by EUR 443.0 million (7%) compared to the third quarter of 2023, and was EUR 5.8 billion in the last quarter. In the last quarter of 2023, a total of 358 million card payments were made on a contactless basis, 10% less than in the third quarter of 2023.
The value and number of remote payments continues to grow
A total of 98 million card payments were initiated on a computer or mobile device in the last quarter of 2023, which was 21% more than in the last quarter of the previous year. The aggregate value of remote card payments (EUR 3.8 billion) was 24% more than in the corresponding period a year earlier.
The number of card payments made using a microchip or magnetic strip declined 7% from the third quarter of 2023 to 128 million transactions in the last quarter of 2023. In terms of aggregate value, payments made using a microchip or magnetic strip declined by EUR 0.2 billion (3%) from the third quarter of 2023 to EUR 8.0 billion in the last quarter of 2023.
The aggregate value of payments made in other euro area countries using Finnish payment cards totalled EUR 1.4 billion in the last quarter of 2023, which was 14% more than in the last quarter a year earlier. The aggregate value of card transactions made with Finnish payment cards outside the EU was EUR 0.4 billion in the last quarter of 2023, i.e. 2% less than in the third quarter.
In the last quarter of 2023, cards issued in euro area countries other than Finland were used to make payments valued at 9% less than in the third quarter, and the aggregate value of these payments was EUR 196 million. In the last quarter of 2023, cards issued outside the EU were used to make card payments with a total value of EUR 182 million in Finland, or 7% less than in the same period a year earlier.
The total number of credit transfers made in the last quarter of 2023 was 311 million, which was 4% more than a year earlier. The value of credit transfers (EUR 1 031 billion) also declined 4% from the last quarter 2022. The total value of credit transfers to Finnish counterparties declined by 1% from a year earlier to EUR 828 billion in the last quarter of 2023.
The figures discussed in this news release have been published in the new payment statistics dashboard. The contents of the dashboard will be extended later.
For further information, please contact:
Tia Kurtti, tel. +358 9 183 2043, email: tia.kurtti(at)bof.fi
Tuomas Nummelin, tel. +358 9 183 2373, email: tuomas.nummelin(at)bof.fi.
The next quarterly payment statistics release will be published in June 2024.