Riksbank advises public on payment preparedness for crises
The Riksbank has issued new recommendations for public payment preparedness, advising households to secure various payment methods for potential disruptions. The guidance aims to strengthen national resilience in the payments market amid current international vulnerabilities.
Cash, cards, and mobile payments for resilience
The Riksbank recommends that all adult individuals maintain SEK 1,000 in cash at home, sufficient for approximately one week of essential purchases.
This benchmark amount should be held in various denominations, and regular cash usage is encouraged to ensure system functionality.
Furthermore, households should possess at least two payment cards from different networks, such as Visa and Mastercard, to ensure payment continuity if one network faces disruptions.
Access to mobile payment services like Swish is also advised, as they operate on a distinct infrastructure from card payments, offering an alternative in case of system failures.
These diverse payment options are crucial for maintaining the public's ability to transact during temporary disruptions, crises, or even wartime scenarios.
Strengthening national payment resilience
Sweden's high digitalisation and the current international situation create payment system vulnerabilities.
The Riksbank stresses public preparedness as vital for national resilience and total defence.
Diverse payment methods enhance transaction ability during disruptions or crises.
Mobile payment users (Apple Pay, Google Pay) should keep physical cards and PINs accessible.
This ensures functionality if devices fail or discharge, enabling offline payments via the card's chip.
The Payments Report 2026, publishing March 12, details these recommendations.
Pragmatic advice for uncertain times
These recommendations offer pragmatic, actionable advice for citizens facing potential payment disruptions.
While seemingly basic, they underscore the critical role of individual preparedness in national resilience, moving beyond institutional measures.
The Riksbank effectively translates abstract security concerns into tangible steps for every household.