Access to payment services is good but making deposits is difficult
Date
31/10/2016
One-fifth of the Swedish population considers that the service for deposits does not meet their needs. This is shown by a fresh survey on the Swedish people’s payment habits, conducted by the Riksbank. The survey also shows that access to payment services is good and that most payments in Sweden are made using a debit card, closely followed by cash and online banking.
Mobile payments are becoming more common but cash continues to be important.
Payments made using mobile telephones and Swish are becoming increasingly common among the younger generation and among people living in urban areas. Mobile payments increase in step with rising incomes and levels of education. But cash continues to play an important role. Eight of ten people in Sweden have used cash in the last month. One in three also reports that they wouldn't be able to cope without cash in society as it is at present.
"This shows, once again, that the payment market is changing at a fast rate, which is basically positive. At the same time, the survey clearly shows that cash is still needed. This is why it is important that the banks take responsibility for cash services," says Erik Lenntorp, Head of Division.
The survey in brief
Based on about 2,000 telephone interviews with individuals between the ages of 16–85
The Riksbank has carried out similar surveys in 2010, 2012 and 2014
The aim of the survey is to gain greater knowledge and understanding of the payment market and how it is developing.
The results have previously been presented on the Riksbank's website under the heading Payment Statistics, in the report The Swedish Financial Market, and in various other reports and research projects.
Facts on payment patterns 2016
Cards
The use of cards increases with rising incomes and levels of education
Younger users use debit cards for amounts under SEK 100 to a greater extent
Residents in urban areas use debit cards to a slightly greater extent
Cash usage
Men have more cash in their wallets
The proportion who never withdraw cash is highest amongst the youngest respondents
Using cash is more common in the group with the lowest income and education levels
Cash usage is slightly lower in urban areas
The proportion of people with over SEK 500 in their wallets is higher in smaller communities
Mobile payments
Younger people use mobile telephones to make payments to a much greater extent than other age groups
The use of mobile telephones to make payments increases with rising income and education levels
Access to and use of Swish is higher among people under the age of 45
Mobile payments are more common among residents of larger communities
Internet payments
The proportion buying online is greater among large households and is slightly higher among residents of urban areas
