Payment methods in Norway
Norwegian e-commerce is worth US$26 billion, in a country of under 6 million. By 2027, this will have risen to US$41 billion.
Market takeaways
- Norwegian e-commerce is worth US$26 billion, in a country of under 6 million. By 2027, this will have risen to US$41 billion.
- In 2022, Norwegians completed almost 40% of all online purchases using a mobile device, up marginally from 2021.
- Norwegians buy a quarter of all their online shopping, worth almost US$6 billion a year, from merchants in other countries.
- Norwegians use digital payments in almost 60% of online transactions. Popular payment methods include Klarna, AfterPay and PayPal.
- The average Norwegian spends US$4,771 with e-commerce merchants. By 2027, this will have risen to US$7,282.
Population
5.5M
Online population
5.4M
B2C e-commerce
$23B
Banked population
99.9%
Credit card population
72%
E-commerce of total retail
16%
Payment method breakdown
- Card43%
- Cash2%
- Bank Transfer17%
- E-Wallet18%
- Other20%
Card scheme breakdown
- Visa6%
- Mastercard9%
- American Express0%
- Local schemes56%
- Other28%
Cross-border e-commerce
Cross-border shoppers
66%
Share of e-commerce
25%
Cross-border value (est.)
$5.8B
Featured payment methods in Norway
All payment methods available in this market, sorted by prominence.
Featured banks in Norway
All banks operating in this market, sorted by prominence.
Nordea
Helsinki, Finland
Nordea is the largest bank in the Nordic region, headquartered in Helsinki, with major operations across Sweden, Denmark, Norway, and Finland.
Danske Bank
Copenhagen, Denmark
Danske Bank is the largest bank in Denmark and one of the leading universal banks in the Nordic region, serving 3 million retail and 500,000 business customers.
DNB Bank
Oslo, Norway
DNB is Norway's largest financial group and one of the largest in the Nordic region, offering retail, corporate, and investment banking, plus insurance and real estate services.
Nordea Finland
Helsinki, Finland
Nordea Finland is the headquarters of the pan-Nordic Nordea Group, offering retail, corporate, and investment banking.
Handelsbanken
Stockholm, Sweden
Handelsbanken is a Swedish universal bank known for its decentralised branch model, operating across the Nordic countries and UK.
Nordea Norway
Oslo, Norway
Nordea Norway is the Norwegian arm of the Nordea group, providing retail, corporate, and investment banking services.
SpareBank 1 SR-Bank
Stavanger, Norway
SpareBank 1 SR-Bank is Norway's largest savings bank, primarily serving the south-western regions of Rogaland, Agder, and Hordaland.
SpareBank 1 SMN
Trondheim, Norway
SpareBank 1 SMN is a major Norwegian savings bank serving the Trøndelag and Møre og Romsdal regions.
Sparebanken Vest
Bergen, Norway
Sparebanken Vest is a leading Norwegian savings bank in the western Norway region, offering retail and SME banking.
Handelsbanken Norway
Oslo, Norway
Handelsbanken Norway is the Norwegian branch of the Swedish Handelsbanken group, offering retail and corporate banking with a decentralised model.
Other Banks — Norway
Oslo, Norway
Aggregate of all remaining banks in Norway not individually listed, collectively ~38.1% of domestic banking assets.
