December 7, 2015
Nordic countries have always stood out in the hi-tech industry, especially in the field of telecommunications. Sweden, Finland and Denmark are renowned for their highly developed telecommunications equipment and handset manufacturing industries. Global telecom companies like Ericsson (Sweden), Nokia (Finland) are from Nordic countries, also sometimes referred to as Scandinavian countries. The king who inspired the name, Bluetooth, was also from the same region. Nordic telecommunications equipment/device manufacturers became global market leaders by the 1990s. As early as 2000, they were experimenting with services built on top of telecom networks, and payments was one such area.
So there should be no surprise now that the benchmarks for mobile payment adoption actually come from that region. One of the main contributors to the rise of mobile payments in these countries is the increase in mobile penetration and mobile Internet penetration. Of course, the relevant backdrop is the high per capita income and investments in R&D made by public units, the private sector as well as academia.
Here are some FinTech startups from this region of the world:
Founded in 2001 and active in 35 countries, Seamless handles more than 3.7 billion transactions annually through 575,000 activ ...