Sveriges Riksbank issued a directive on March 18, 2026 establishing March 2027 as the deadline by which Swedish banks must begin offering instant payment services through their internet banking platforms. The central bank stated that any bank providing regular account-to-account transfers via internet banking should also enable customers to make instant transfers, or at minimum communicate a clear plan to do so by that date.
The intervention addresses a longstanding gap in Sweden's payment infrastructure. Despite having both domestic and European instant payment rails available for years, virtually no Swedish bank has chosen to offer instant payment services through its standard banking channels. The practical consequence is that corporate payments between Swedish companies cannot settle instantly, and a transfer initiated through internet banking on a Friday afternoon does not reach the recipient until Monday morning at the earliest.
This situation is notable given Sweden's reputation as one of the most digitally advanced payment markets in the world. The country's Swish mobile payment system handles peer-to-peer instant payments effectively, but the underlying instant payment infrastructure has not been extended to standard banking services for consumers and businesses.
The Riksbank signaled it is prepared to pursue legislative action if the banking sector does not comply voluntarily. The central bank referenced the European Union's Instant Payments in Euro Regulation as a potential model, suggesting that similar mandatory requirements could be introduced and adapted to Swedish conditions if market-driven adoption fails to materialize.
The central bank also emphasized that instant payment services must incorporate appropriate risk management, including real-time fraud prevention capabilities and full compliance with anti-money laundering regulations. The Riksbank pointed to the Verification of Payee feature used by Swish as an example of the type of security integration expected in any new instant payment offering.