The Nordic region continues to lead in payment innovation yet faces evolving security challenges that merit careful analysis. Visa’s research quantifies this trend, with the Nordics experiencing approximately 11 million fraud attempts annually, affecting many of the region’s 22 million residents.

Visa Consulting & Analytics has conducted a systematic examination of security factors across Denmark, Finland, Iceland, Norway, and Sweden through consumer research, transaction data analysis, and market intelligence

Quantitative findings to note:

• Only 42% of fraud victims received complete or partial compensation
• 37% of fraud victims avoided certain online merchants after experiencing fraud
• Security now outranks both convenience and cost when consumers choose payment methods

The fragmentation within the Nordic payment security landscape provides untapped opportunities for financial institutions to strengthen customer relationships through enhanced trust and protection.

The complete analysis provides:

• Insights on fraud patterns across different Nordic markets and payment methods
• Consumer perceptions of security across various payment options
• Recommendations for balancing security measures with user experience

For strategic insights and recommendations, download Visa’s comprehensive white paper.