.svg)
Sweden's rapid shift towards digital payments has left cash usage in steep decline, prompting the deputy governor of the central bank to advocate for new regulations to safeguard its status.
Speaking at the Swedish parliament, Aino Bunge stressed the importance of cash as an inclusive payment option, and echoed other Nordic central banks like Norway in saying that it is a vital backup during crises or conflicts.
"The Riksbank has long taken the view that shops selling essential goods should be obliged to accept cash,” the deputy governor of the Riksbank said. “It is therefore very positive that the inquiry presents proposals that are in line with this."
A December 2024 inquiry by lawmakers into cash use proposed requiring merchants selling essential goods, such as food and pharmaceuticals, to accept cash.
It also recommended strengthening the cash-handling infrastructure, echoing concerns raised by the Riksbank in a submission last autumn.
"The infrastructure is vulnerable, particularly with regard to the transport of cash to and from businesses. It is therefore positive that the inquiry recognises the need to safeguard it. A well-functioning infrastructure is a prerequisite for us to be able to continue using cash,” said Bunge.
Should Sweden’s government introduce access to cash rules, it would reflect action taken at EU level, where a proposal was made as part of the Single Currency Package in 2023 to guarantee access to cash in the euro area.
