In response to growing geopolitical tensions and the threat of infrastructure disruption, the Nordic countries—Finland, Sweden, Norway, Denmark, and Estonia—are advancing the development of offline card payment systems to safeguard financial continuity. According to Reuters, this regional effort is driven by Western intelligence reports alleging Russian attempts to sabotage undersea infrastructure in the Baltic Sea.
Tuomas Valimaki of the Bank of Finland cited the current geopolitical environment as a key driver for the increased risk of major payment system outages. Offline payment systems, which allow card transactions to be processed without internet access, have already been implemented in Norway and Denmark. Sweden is expected to follow suit by July 2026, while Finland and Estonia are actively working on similar initiatives.
The Nordics are among the world’s least cash-reliant societies. Central bank data shows that only 10% of Finns use physical cash as their primary payment method. This high level of digital payment adoption makes the region especially vulnerable to disruptions in card networks.
Valimaki also raised concerns over Europe’s dependence on American payment networks like Visa and Mastercard. “We cannot rule out that one night someone on Truth Social comes up with using payments as a pressure tactic,” he said, referencing the unpredictability of political rhetoric and its potential economic impacts.
The initiative represents a proactive effort by the Nordics to enhance payment resilience in uncertain times.