If you’re looking into growing your business in Scandinavia, you will find that Scandinavians are more or less equally positive towards online shopping. But when it comes down to payment methods, Danish, Swedish and Norwegian consumers have significantly different preferences when shopping online.
In Norway, payment cards like Mastercard, Mastercard Debit and Visa are the most popular. But besides the usual, the three Scandinavian countries have their own national payment methods. In Denmark they use MobilePay Online, in Sweden it’s Swish and Norway has Vipps.
So even though the online shopping behaviours in Scandinavian countries are similar, each of them has its own payment system that you, as a foreign business, need to implement if you wish to do e-commerce in Scandinavia.
Included are non-subscription payments in NOK from merchants using the QuickPay platform.
The numbers are from April 2021.
The Norwegian krone (NOK) is the official currency of Norway with its regulation and circulation controlled by the country's central bank, the Norges Bank.
The Norwegian krone, or kroner for the plural term, subdivides into 100 øre. The word krone translates into English as the crown.
It doesn’t have a fixed exchange rate, allowing the currency to float based on the foreign currency exchange rate.
When the euro's value is in doubt, currency investors may seek out the krone as it’s a prudent investment due to Norway’s very stable economy.
Majority of online shopping purchases in Norway are delivered to distribution points or pick-up points. This is a convenient option, as there are a lot of pick-up locations around the country. Consequently, the delivery to the recipient's door isn’t a very popular choice.
Due to cross-border commerce and logistical issues caused by a geographically separated population, only a small number of Norwegian online shoppers expect their delivery within two days or faster.
The most popular shipping service providers are PostNord, Posten and Bring.
PostNord is a leader in logistics and communication to, from and within the Nordic region. It delivers postal and logistics services in Sweden, Norway, Denmark and Finland, and distributes mail as a postal service to consumers and companies in Sweden and Denmark.
Posten, together with Bring, is a part of Posten Norge AS group - a Nordic postal and logistics group. Posten concentrates on the private market in Norway.
In the overview below, you’ll find the split between payment methods in Norway. The split indicates the share of payment card payments and other national payment methods. The overview constitutes the total amount of payments online.
Payment cards are one of the most popular and widespread payment methods for online transactions.
Accordingly, cards are the number one way to pay in Norway, taking up almost 80% of all online payments.
Vipps is a Norwegian smart payment solution that allows customers to pay online, in-stores, pay subscriptions and bills, send and receive money and more.
The card distribution overview shows the split between different card payment methods. Visa and Mastercard have the largest market share within the card distribution market. This might be due to ongoing internationalization and online consumers shopping across borders and therefore needing an international payment card.
The basket size overview indicates what are the average order sizes of customers using different payment methods and payment cards. The blue line indicates the average basket size in Norway, which is 1338 kr. Knowing the average, it's easier to navigate between which payment methods and payment cards you should offer your customers when operating within Norway.