Payments Report 2024

Safety, efficiency and accessibility

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Safety, efficiency and accessibility

Are payments in Sweden safe?

Payments in Sweden are generally safe, but there are shortcomings that should be addressed. First, the cash infrastructure is entirely dependent on two private operators and is therefore highly vulnerable to changes in the market. Second, the digital payment infrastructure is in need of modernisation, especially since the banks have discontinued the P27 project that aimed to build a common Nordic payment infrastructure. Third, digital payments are vulnerable to disruptions in electricity grids and data communication. In addition, fraud is increasing in Sweden.

Shield with padlock. Circuit board in the background.

Published: 14 March 2024

What is needed for payments to be safe?

The payment system must be stable, resilient to disruptions in normal times and able to function in peacetime crises and states of heightened alert. It should be possible to use multiple payment methods so that payments can be made even if there is a disruption in any part of the system. Protection against fraud must be high. The payer and payee must be confident that the payment will be received and that the cash received is genuine, and that sensitive information such as authentication and card details are not disclosed and used by unauthorised persons.