Sweden’s Riksbank is calling for urgent measures to strengthen Sweden’s payment system due to growing geopolitical tensions and the risk of disruptions.
It urges the development of offline card payments, the continued use of cash for essential purchases, and improved access to instant transactions.
Both public and private sector actors must take action to improve preparedness, while the public is encouraged to keep both physical payment cards and cash readily available.
“In light of the deteriorating security situation in Sweden and our neighbouring region, urgent steps are needed to ensure a payments market that can withstand disruptions,”
said Governor Erik Thedéen.
“We are working with key stakeholders to have a solution for offline card payments in place by 1 July 2026.”
The central bank also supports legislative measures to ensure cash remains a viable payment option and urges banks to improve financial inclusion by making basic payment accounts more accessible.
Additionally, it calls for greater adoption of instant payment services to support businesses and consumers, as well as faster cross-border transactions through the upcoming TIPS cross-currency service.
“Payments must be secure, efficient, and accessible to all. We urge banks and policymakers to take the necessary steps to strengthen Sweden’s payment infrastructure,”
Thedéen concluded.
Featured image credit: edited from freepik
