Nordea reports Finland Ministry of Finance e-payments contract

Nordea reports Finland Ministry of Finance e-payments contract

Scandinavian bank Nordea has won a deal to provide electronic invoicing and payment services to Finland's Ministry of Finance for the next four years.

Nordea says it has been selected to be the main intermediary of government payment traffic in Finland through to November 2007 after the country's Ministry of Finance opted to renew its original 2002 contract.

The payment traffic of the Finnish Government accounts for some 10% of the country's entire payment volume. As main intermediary, Nordea manages the domestic and foreign payment traffic and provides account services.

Nordea also manages e-banking services related to e-commerce and identification, as well as the transmission of e-invoices to consumers and small-sized enterprises, together with secondary intermediaries.

The bank says it will continue to promote the use of electronic invoicing in the new contracting period. The Finnnish government sends out around 13 million invoices a year, says Nordea, of which 90% are sent to consumers and smaller enterprises.

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