Use of cards, cash money and mobile payment apps in Sweden 2012-2020

After a year-by-year increase since 2012, mobile payment system Swish overtook banknotes or coins as a payment method in Sweden in 2020. The source mentions this trend was accelerated by the coronavirus: people had to pay more digitally. Swish is supported by the six largest banks in the country, but is also a P2P app with consumers being able to send money to each other. Regardless, card payments were the most common payment method in Sweden in 2020: 92 percent of Swedes responded to have paid with card within the last 30 days. Note that the values presented here are not a market share - 50 percent of Swedish respondents at some point used cash money in the last 30 days. When looking at the value of overall transactions conducted with cash, the market share of cash money in Sweden was actually around 12 percent in 2019.