The payment landscape in Sweden has undergone a digital shift spurred by technological advancements, regulatory changes, and evolving merchant and consumer preferences. Sweden’s payments market is highly diversified and competitive, with merchants offering and consumers taking advantage of this diversity in choice. In particular, although steadily used, cash is much less popular than in other markets, and we see a shift towards digital payments coupled with the continued growth of e-commerce. Cards, instant and regular bank transfers, and buy now, pay later (BNPL) are popular among Swedish merchants and consumers.
The payment landscape in Sweden has undergone a digital shift and is highly diversified and competitive
