Central Banking

Riksbank considers joining EU’s faster payments system - deputy governor

SKr1,000 banknotes

Sweden’s central bank is examining whether there is a need to adjust its national payment system, or complement it with another service, given the pace at which consumers are moving away from cash.

Speaking on November 22, Sveriges Riksbank deputy governor Cecilia Skingsley said “almost all consumer payments” are now made by card in Sweden.

The cash-averse Nordic country has no card network of its own and as a result, the market is completely dominated by Visa and Mastercard, with much of the

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