Apart from card payments, almost all electronic payments between banks are made through accounts that the banks have in RIX (see Most payments in Sweden go through the Riksbank’s system). The RIX system consists of two settlement services: RIX-RTGS (for large payments and aggregated retail payments) and RIX-INST (for individual instant payments).

One way to manage and further develop settlement systems while keeping costs as low as possible is to share them with other central banks. This is one of the reasons why RIX-INST uses the Eurosystem’s instant payment settlement system – TARGET Instant Payment Settlement (TIPS). In addition, the Riksbank has taken a strategic decision to explore the possibilities of using the other Eurosystem payment and securities settlement platforms, T2 and TARGET2-Securities (T2S), respectively.