The best Nordic payment stories you missed this year

Ahead of the event, we thought we would highlight some of the Nordic stories you may have missed so far this year.

The Swedish central bank calls for the protection of cash

The Riksbank published its payments report and emphasized the need to create laws to ensure people can pay with banknotes and coins.

The report found that the number of banknotes in circulation in Sweden fell by 10% in 2023.

Erik Thedéen, governor of the Riksbank, said: “Payments must work for everyone. In the longer term, all payments can be made digitally – but until then, cash plays an important role. We need laws that ensure cash can be used to pay.”

“Banks also need to ensure that more customers have access to payment accounts. These are important prerequisites so that everyone can pay today and in the future.”

Saldo Bank is expanding into Sweden

Finnish neobank Saldo Bank started operations in Sweden hoping to attract customers with interest rates of up to 5% on one-year fixed deposit accounts.

The fintech received its specialist banking license from the ECB in 2023, before receiving the green light to start banking services in Finland the same year.

Klarna’s IPO expected

Swedish fintech company BNPL’s IPO is expected to take place later this year after it posted a net loss for the fifth consecutive year.

But following this report, Klarna was fined SEK 7.5 million (US$733,000) by the Swedish Data Protection Authority (IMY) for failing to adequately inform customers about how the company stores personal data.

Danish fintech Safty raises 11.3 million DKK

Safty raised DKK 11.3 million in venture capital, led by Upfin and supported by prominent angel investors including Danske Bank board member Jacob Dah.

Safty combines public and private data and machine learning technology to give banks insights into customer needs.

Zwipe is withdrawing from the payment card market

Norwegian biometric card company Zwipe withdrew from the payments market as its contactless cards with fingerprint recognition were not well received.

The company embarks on a restructuring and new strategic direction, turning its attention instead to the biometric access control market.

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