Nordea Finance Erämaksu is a valuable addition to your online store's payment selection. Erämaksu is an unsecured fixed-term one-time loan intended for larger online purchases of €500–30,000. The consumer customer applies for Erämaksu's credit decision at the online store's checkout.

  • When installment payment is used as a payment method in the online store and the amount of the purchase is at least €500, the consumer customer can choose installment payment as the payment method at your online store's checkout. The amount of loan granted corresponds to the price of the purchase and cannot exceed €30,000.
  • Instead of a regular payment transaction, the customer can quickly apply for a credit decision directly at checkout. To apply, the customer needs a Finnish online banking identifier or mobile certificate. Customers of all banks can apply for installment payment.
  • An order paid by installment is ready for shipping in the online store's admin panel. Nordea Finance will settle the payment on the first banking day after shipping.

The instalment payment is granted by the lender Nordea Finance Finland Ltd, business ID 0112305, address Aleksis Kiven katu 9, Helsinki, 00020 Nordea.

Pricing

The Erämaksu payment method is free of charge for the merchant, with a reasonable interest rate for the consumer customer (12% + 3-month Euribor) and an account management fee (0.01% of the amount of credit granted/day, maximum €3/month) without an opening or annual fee. The customer can at any time pay off the loan at no additional cost.

For example:

With a loan period of 12 months, the actual annual interest rate for a loan of €1,500 is 20.02%, the loan price is €1,654 and the installment is €137.8/month, taking into account the 3-month Euribor interest rate (01/2023) + 12% and the account management fee €3/month.

Installation and setup

  1. In the admin panel, go to Settings > Payment methods.
  2. Click Add payment method, and select Nordea Finance Erämaksu.
  3. In the payment service details, click Learn more.
  4. Apply to become a Nordea Finance merchant partner by filling in and submitting the form that opens.

    Nordea Finance will contact you within a few days. When concluding the agreement, Nordea Finance will provide you with the merchant number required to use the payment service.

  5. Select Nordea Finance on the admin panel's Settings > Payment methods page, and enter your merchant number in the relevant field.
  6. Define the rest of the payment method's settings, and save the payment method.

When introducing and advertising the payment method, you can use the partner's material bank (Finnish only) that Nordea Finance provides to their merchant partners. There you will find, among other things, banners and images intended for advertising the part payment service, as well as advertising instructions. The instructions available in the Partner's Material Bank are also suitable for marketing beyond the context of an online store.

Go to the Partner's Material Bank.

As Nordea Finance's merchant partner, you must carefully review the materials and have your advertising approved by Nordea Finance. In the Partner's Material Bank, you will find contact details for comprehensive marketing support.