Scan Magazine | Innovation Profile | Checkout Finland Oy
Leading payment solutions for a changing market Addressing rapidly changing requirements for payment solutions, Checkout Finland offers progressive technologies for merchants to grow their businesses. By Malin Norman | Photos: Checkout Finland
Checkout Finland is one of the leading internet-based payment service providers in Finland. The company was set up in 2008 and is located in Tampere, with a staff of 30 in-house professionals. As of 2014, Checkout has been a subsidiary of OP Financial Group. OP is one of the largest financial companies in Finland, and Checkout belongs to its new digital commerce and payments business. Originally set up by start-up entrepreneurs, the company was initially focused on small and medium-sized enterprises. Developing over the years and changing 102 | Issue 111 | April 2018
focus to servicing larger corporations, Checkout Finland has grown rapidly, with an approximate 30 per cent growth rate in 2017. It now has close to 10,000 e-commerce merchants in Finland and a continuously growing number of merchants for physical store payment solutions as well. Services cover a wide range of modern SaaS solutions for merchants to maximise their business value, both for e-commerce and m-commerce, as well as solutions for physical shops. “We have the widest selection of tools tailored for
the Finnish market,” says CEO Perttu Kroger. “If you are selling something to consumers in Finland and want to make sure that the money flows flawlessly from and across your channels, we are the right partner.”
Rapidly shifting environment According to Kroger, the payment landscape is shifting rapidly, with mobile payments becoming the trend, especially for millennials, and merchants should address this demanding segment promptly. “Consumers are moving from bank payments and card payments to using mobile for both e-commerce and physical boutiques. Supporting mobile payments in a digital or physical shop has become a prerequisite to serving the growing millennial customer group successfully.