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Card, Internet and mobile payments in Finland

Author

Listed:
  • Hanna Jyrkonen

    (Bank of Finland)

  • Heli Paunonen

    (Bank of Finland)

Abstract

Retail payment methods are in a stage of rapid development. New service providers and technological developments enable new payment services through a variety of channels. Payment solutions are being developed based eg on the Internet and on mobile phones. Presumably, the use of paper-based payment instruments will decrease further in the future thanks to electronification in the retail payment area. In this paper we focus on card payments in Finland and certain other countries. We also look at Internet- and mobile-based payments and discuss some of the challenges related to the new solutions. The paper ends with a brief discussion of recent changes in Finnish legislation in connection with retail payments.

Suggested Citation

  • Hanna Jyrkonen & Heli Paunonen, 2004. "Card, Internet and mobile payments in Finland," Development and Comp Systems 0405004, University Library of Munich, Germany.
    • Handle: RePEc:wpa:wuwpdc:0405004
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    File URL: https://econwpa.ub.uni-muenchen.de/econ-wp/dev/papers/0405/0405004.pdf
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    References listed on IDEAS

    as
    1. Sujit Chakravorti & Timothy McHugh, 2002. "Why do we use so many checks?," Economic Perspectives, Federal Reserve Bank of Chicago, vol. 26(Q III), pages 44-59.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    retail payments; payment cards; Internet payments; mobile payments;
    All these keywords.

    JEL classification:

    • O31 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Innovation and Invention: Processes and Incentives

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