Payments Report 2024

Payment habits in Sweden

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Swish on the rise in e-commerce

Published: 14 March 2024

E-commerce has grown significantly in recent years and received an extra boost during the pandemic. The Riksbank’s latest survey shows that 75 per cent have shopped online in the past month. This is an increase of almost 20 percentage points since 2018. The result for 2023 is in line with 2022, indicating that the shopping habits established during the pandemic are continuing.

The most common payment methods in e-commerce are debit cards, followed by Swish and buy-now-pay-later services, as you can see in Figure 4. According to the Riksbank’s survey, it has become more common to use physical debit cards and Swish online. Mobile card payments have almost tripled compared to 2022, but from a low level. In contrast, the use of buy-now-pay-later services has decreased by 15 percentage points compared to 2022. According to a report from Finansinspektionen, a possible explanation for this could be that in 2020 the Swedish Riksdag introduced new rules for the marketing of online payment services. The rules mean that payment options on e-commerce sites that involve consumers shopping on credit cannot be displayed first or pre-selected if other payment methods are available.

Figure 4. Debit cards and Swish most commonly used for e-commerce payments

Percentage of people paying by each payment method in e-commerce over the past 30 days, 2023.

Figure: Figure 4. Debit cards and Swish most commonly used for e-commerce payments

Note: Several responses were possible. Direct payments are payments where the payer follows a link from the online store to the online bank, where the payment is made directly. The question on buy-now-pay-later services has been reworded since the previous survey, which may affect the results.

Download the data from the diagram by clicking on the arrow to the right, above the diagram.

Source: The Riksbank.