Before, everything was paid in cash. Then came debit and credit cards, which have largely replaced cash in Finland. Almost everywhere you can pay by card today, even strawberries can be paid by card at the mobile payment terminal. Many cards also feature a near-payment feature, which further speeds up payment.
What is the best and most convenient payment method today, but do you need any cash at all?
Benefits of cash
With cash, you remain very clear about how you spend your money when you can see the amount of money left in your wallet. Cash is also a safe means of payment, because sometimes there is a problem with payment cards or card readers, but cash always works!
Especially when abroad, cash is a safe means of payment, as in many countries cards are not as widely used as in Finland. However, too much cash is not always smart to carry for security reasons .
Benefits of debit and credit cards
Most Finns have at least one debit card, and many have both a debit and credit card. Nowadays you can pay by card almost everywhere in Finland. Cards also take up less space and weigh less than a coin bag, and card payments can be easily tracked through online banking. Your credit card is also a secure means of payment thanks to your PIN. Learn how to memorize your PIN, and don’t keep it high, especially in your wallet!
Credit card payment times give you the flexibility to make purchases, as purchases are not billed immediately but come after the bill. However, it is always a good idea to pay the invoice back by the due date to avoid interest charges. Some cards may also have a monthly or annual fee.
Many cards, such as Amex or American Express or Diners Club , also offer the cardholder many benefits and services, such as bonus points at various stores or airline points programs, and payment methods.
Benefits of near-payment
The near-payment of a debit card is a relatively new feature. It allows you to pay quickly for small purchases under $ 25. Transaction speeds up when you do not have to enter your PIN with small purchases, and pay at the checkout by displaying a card on the payment terminal reader.
However, there is a risk of a close payment that someone else will be able to use the feature without a PIN.
Each payment method has its own pros and cons. The use of cash is clearly declining in Finland: there are relatively few ATMs and mobile payment terminals allow card payments almost everywhere. For example, iZettle and other mobile payment terminals make it easy for small businesses such as marketers to accept card payments.
Many payment applications have also opened up new possibilities: for example, MobilePay is an application of Danske Bank that allows you to transfer money to another person over the phone. The application is completely free for customers of all Finnish banks and faster than online banking. The payment method is used eg. tori.fi, and for example, you can easily make a donation to SPR through MobilePay.
The payment method depends on the situation, what is the most convenient payment method for you?