Checkout Finland Oy

What Checkout Finland Oy does

Checkout Finland Oy was a Finnish payment intermediation service founded in 2012, providing online payment processing infrastructure to e-commerce merchants across Finland. The service was built around a single-contract model that exposed all major domestic payment methods — bank payments, mobile payments, card payments, and multiple invoice and installment services — through one integration, with platform-level features such as card tokenization (one-click and recurring payments), Shop-in-shop payment distribution to multiple recipients, and merchant reporting via the Checkout Extranet interface.

In 2021 Checkout Finland was acquired by Paytrail Oyj, integrating it into the broader Paytrail product suite that subsequently became part of the Nexi/Nets European payments consortium. Following the acquisition, Checkout merchants were migrated onto Paytrail, the merchant interface was re-skinned as the Kauppiaspaneeli (Merchant Panel), and by September 2025 the legacy "CHF*" account descriptor on bank statements was replaced with "PTL*", completing the brand transition. The combined offering now extends beyond the original Checkout service into merchant financing (via partner Liberis), omnichannel online and in-store payments, a mobile POS product (Vektorikassa), and a newly listed "Agentic commerce" track.

The business model is transaction-fee based, with merchants paying a take-rate for processed payments; pricing is not publicly disclosed but is bundled by payment method under one contract, billed monthly. The go-to-market is primarily self-serve through the Merchant Panel and pre-installed integrations with most Finnish e-commerce platforms, supplemented by channel partners (digital agencies and system vendors) and direct sales for larger merchants. The target customer base is horizontal and predominantly SMB Finnish e-commerce, with extensions into omnichannel retail and starter merchants.

Name

Checkout Finland Oy

Legal name

Checkout Finland Oy

Website

https://checkout.fi

Company type

Private

Founded year

2009

Operating status

Acquired

Headcount range

51–100 employees

Short description

Checkout Finland is a Finnish online payment intermediation service for e-commerce merchants, processing bank, mobile, card, and installment payments under a single contract. It was acquired by Paytrail in 2021 and now operates within the Nexi/Nets group.

Ownership category

akta.pro rank

Product category

Online Payment Processing

NAICS

Financial Transactions Processing, Reserve, and Clearinghouse Activities (52232), Financial Transactions Processing, Reserve, and Clearinghouse Activities (522320)

akta.pro industry

PRIMARYFSAMACAA

Merchant Payment Gateways (API/Hosted Checkout)

Financial & Insurance/Payments & Transaction Processing/Payment Gateways & Orchestration

SECONDARYFSAMAFAC

Bank-to-Bank Transfers & Pay-by-Bank (Consumer & Merchant)

Financial & Insurance/Payments & Transaction Processing/Account-to-Account (A2A) & Open Banking Payments

SECONDARYCRAFALAH

Recurring Billing, Subscriptions & Tokenized Payments

Consumer Products & Retail/E-commerce & Marketplaces/Digital Payment Solutions for E-commerce

SECONDARYBPAMAFAF

Bill Pay, Invoicing & Payables Platforms

Business & Public Services/Web, Mobile & Digital Platforms/Payments, Wallets & Digital Banking Platforms

Keywords

• Online payment processing
• Payment service provider
• E-commerce payments
• Payment gateway API
• Merchant payment solutions

Headquarters

HQ city

Jyväskylä

HQ country

Finland

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B

Offering type

Software

Cost components

Personnel, Technology or R&D, Operations, Marketing or Sales, Infrastructure

Revenue model

1. Payment transaction fees: Paytrail charges merchants transaction fees for processing payments through bank transfers, card payments, mobile payments, and invoice/installment services.

Pricing tiers

Go-to-market motion2 records

Distribution channels4 records

Marketing channels6 records

Core offering

Checkout Finland (now part of Paytrail) provides an online payment service for e-commerce merchants in Finland, delivering bank payments, mobile payments, card payments, and multiple invoice and installment services under a single contract. The platform is pre-integrated with most Finnish e-commerce platforms and offers an API, card tokenization for one-click/recurring payments, a Shop-in-shop payment mediation service for splitting funds to multiple recipients, and an Omnichannel solution that combines online payments with physical payment terminals including a mobile POS (Vektorikassa).

Product overview

Paytrail operates as a unified payment service platform that was expanded through the 2021 acquisition of Checkout Finland. The core offering is the Paytrail Maksupalvelu (Payment Service), which provides all popular payment methods under a single contract. The platform is complemented by add-on modules including Kauppiasrahoitus (merchant financing via Liberis), Shop-in-shop, Stored Card Payments with tokenization, and Omnichannel solutions including Vektorikassa for mobile POS. Merchants access these services through the Kauppiaspaneeli (Merchant Panel), formerly known as Checkout's Extranet. The platform integrates with nearly all Finnish e-commerce platforms and offers developer documentation via API.

Differentiator

Problem solved

Functional benefit

Products and services

• Paytrail Maksupalvelu (Payment Service) Core online payment service from Paytrail (successor to Checkout Finland) offering all popular Finnish payment methods (bank payments, mobile payments, card payments, and multiple invoice and installment services) under a single contract. Targeted at Finnish e-commerce merchants that need comprehensive domestic payment method coverage without managing multiple provider relationships.
• Paytrail Kauppiasrahoitus (Merchant Financing) A merchant financing solution offered by Paytrail in partnership with Liberis, providing business funding and working capital to Paytrail merchants. Targeted at e-commerce merchants needing additional capital access.
• Shop-in-shop Payment intermediation service offering multiple payment methods, clear settlement reports, and automatic distribution of payments to multiple recipients. Targeted at marketplace-style retailers and merchants needing multi-recipient settlement.
• Paytrail Omnichannel Combined online payment and payment-terminal solution enabling businesses selling both online and in physical retail locations (stores, pop-ups, event sales) to use a single contract and unified payment service. Targeted at Finnish retailers and brands needing unified online + in-store payments.
• Vektorikassa Mobile point-of-sale solution extending Paytrail Omnichannel to mobile sales and lightweight or small-scale physical retail without requiring an IT project. Targeted at merchants needing easy-to-launch mobile or pop-up/event payment acceptance.

Segments3 records

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

Integration2 records

Feature3 records

Partnerships

Three partnerships are on record, tiered core.

• LiberiscoreStrategic or Co-development PartnerLiberis is Paytrail's partner for Paytrail Kauppiasrahoitus (Merchant Financing), a new financing solution offered to merchants. This partnership enables providing working capital and financing options to Paytrail merchants.
• E-commerce platforms, system vendors, and digital agenciescoreTechnology or IntegrationPaytrail's ecosystem includes hundreds of e-commerce platforms, system suppliers, and digital agencies throughout Finland. The payment service is pre-installed or available on most e-commerce platforms, enabling seamless integration for merchants.
• Nexi/NetscoreOthersPaytrail is part of the Nexi/Nets group, a major European payments company. This corporate relationship provides scale and resources for Paytrail's operations in the Finnish market.

Scale indicators1 record

Recent moves6 records

Expansion highlights5 records

Direct peers

• Paytrail Oyj: Acquirer of Checkout Finland and current operator of the payment service under the same merchants and infrastructure; effectively the same business operating under the Paytrail brand, so the most directly comparable entity.
• Stripe: Global payment gateway offering API-based card processing, wallets, and local payment methods, including an expanding presence in Finland and the Nordics; competes for the same e-commerce merchants with similar self-serve onboarding.
• Adyen: Unified global payment platform serving enterprise and omnichannel merchants with a single contract for multiple payment methods, structurally similar to Paytrail's "one contract" proposition for Finnish merchants.

Broad incumbents

• Nexi Group: Parent group of Paytrail and the wider European payments conglomerate; operates acquiring, processing, and merchant services across multiple European countries, providing parent-level scale and shared infrastructure to the Finnish business.
• Nets (Nexi/Nets): Northern European payments incumbent now integrated into Nexi, offering merchant acquiring, card processing, and digital payment services across the Nordics and Baltics; comparable through shared ownership and overlapping merchant services.
• Verifone: Global provider of payment terminals and omnichannel commerce software; comparable to Paytrail Omnichannel and Vektorikassa in the physical/POS side of merchant payments.
• Worldline: Major European payment processor and acquirer offering merchant services across multiple European markets; comparable as a broad incumbent whose Nordic ambitions overlap with Paytrail's domestic position.

Emerging players

• Klarna: Buy-now-pay-later and full-stack payments provider now integrated into the Paytrail payment service in Finland; competes in the invoice/installment methods Paytrail supports and shapes the buy-now-pay-later landscape merchants face.
• Walley (Collector Bank): Nordic invoice and installment payment provider active in Finland; partial overlap with Paytrail's invoice/installment payment methods and a frequent alternative for merchants evaluating BNPL and consumer credit options.

Regional players

• MobilePay: Danske Bank-owned Nordic mobile wallet that Paytrail integrates as a payment method; relevant as an adjacent mobile-first payment rail serving overlapping Finnish consumers.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Customer concentration

• Facebookfacebook.com/paytrail
• LinkedInlinkedin.com/company/checkoutfinland
• Instagraminstagram.com/paytrail
• Xx.com/CheckoutFinland

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Checkout Finland Oy