Sweden’s Riksbank Prioritizes Offline Payments Amid Geopolitical Tensions

Sweden’s central bank, the Riksbank, is working to enable offline card payments to strengthen the country’s payment resilience amid geopolitical instability and the ongoing conflict in Ukraine. Currently, offline payments in Sweden are limited and unavailable for contactless and mobile wallet transactions.

Riksbank Governor Erik Thedéen emphasized the urgency of creating a payments market that can withstand disruptions, stating, “Public and private actors must step up efforts to ensure payment resilience. We aim to have an offline payment solution in place by July 1, 2026.”

Thedéen also highlighted the importance of cash as a contingency measure and for those unwilling to use digital services. He called for legislation to maintain cash usage, including a cash obligation for essential goods and measures to protect the cash infrastructure.