Sweden to make offline card payments available by mid-2026
Sweden's central bank has partnered with payment companies to implement a system for offline card payments by mid-2026. This initiative aims to enable Swedes to purchase essential goods using physical cards and PIN codes during online banking disruptions. Riksbank Governor Erik Thedeen emphasized the importance of this development for emergency preparedness, allowing payments for necessities like food and medicine even during serious data communication breakdowns. This move aligns with similar efforts in Finland, Norway, Denmark, and Estonia to enhance payment security in case of internet outages.
HELSINKI, Oct 3 (Reuters) - Sweden’s central bank said on Friday it had agreed with payment companies to establish a system by mid-2026 that allows Swedes to pay for essential goods with offline cards in the event of a disruption in online banking.
Households in the Nordic country only rarely use cash for payments at stores, making people vulnerable to potential technical problems or sabotage affecting online transactions.
Offline payments will thus become possible with physical payment cards and associated PIN codes, the Riksbank said in a statement.
“The general public being able to pay by card for example for food and medicines even in the event of a serious breakdown in data communication, that is offline, is a milestone in our intensified efforts to strengthen emergency preparedness,” Riksbank Governor Erik Thedeen said.
Reuters
reported in May
that Finland, Sweden, Norway, Denmark and Estonia were rolling out offline card payment systems as a back-up in case internet connections are lost, including due to sabotage.
