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Many people make payments by mobile, for example with Swish
29/10/2020 -Electronic commerce and mobile payments, such as Swish, are becoming increasingly common. Other payment applications such as Apple Pay and Google Pay are also becoming more popular. About five per cent of young people in Sweden own some form of...
The use of cash is declining
29/10/2020 -In 2010, 39 per cent of respondents in the Riksbank’s survey of the payment behaviour of the Swedish population said that they paid for their most recent purchase in cash. By 2020, this figure had fallen to 9 per cent. At the same time, 50 per...
New solution for instant payments in kronor
29/10/2020 -Instant payments are expected to become increasingly common in the future, and are expected to have more areas of use. Perhaps, for example, households may want to be able to pay for a car or redeem a mortgage and see that the payment has been...
ISO20022 – a new, shared ‘language’ for payments
29/10/2020 -To make a payment, the participants in it need to be able to communicate with each other in an agreed format that is a sort of shared language. It is therefore said that a payment is communicated through a shared standard. Around the world,...
Payments between accounts work less well into many currencies
29/10/2020 -Account-to-account payments between countries are common for purchases of larger objects such as cars, boats and real estate. They are also common in payments of taxes and fees, when making gifts and so on, when the payer initiates a payment to...
The Riksbank must maintain essential services
29/10/2020 -The Riksbank’s responsibility for maintaining essential services during crisis situations and under heightened alert is made clear by the proposed new Sveriges Riksbank Act. This responsibility means that the Riksbank must safeguard its capacity,...
The authorities are working to promote innovation
29/10/2020 -The Swedish Government sees Fintech as an important future sector and has given several government agencies the task of promoting it. On behalf of the Government, Finansinspektionen is therefore running the FI centre for innovation, which has...
International work on instant payments
29/10/2020 -Instant payments are expected to become increasingly common in the future. When information can be sent around the world in seconds, it may be difficult for consumers to understand why it takes up to several days for a payment to be executed.
Swedish payments to be integrated internationally
29/10/2020 -Electronic payments are based on communication between the parties involved in the payment – the systems must therefore communicate using the same ‘language’. International work is in progress to design notifications in a way that simplifies...
Card payments function smoothly
29/10/2020 -Overall, card-based cross-currency payments function smoothly, both for online purchases and when abroad. However, unlike when making payments in Swedish kronor, an exchange rate markup must be paid to the bank. In addition, card payments cannot...