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NextGen Nordics 2024: Top Nordics payments stories you’ve missed this year

Finextra is returning to Stockholm for the annual NextGen Nordics event. Attendees can expect in-depth conversations on a variety of topics and much more.

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NextGen Nordics 2024: Top Nordics payments stories you’ve missed this year

Editorial

This content has been selected, created and edited by the Finextra editorial team based upon its relevance and interest to our community.

Ahead of the event, we thought we’d highlight some of the Nordics stories you might have missed so far this year.

Swedish central bank calls for protection of cash

Riksbank released its payments report highlighting the need to create legislation to ensure people can pay with notes and coins.

The report found the number of banknotes circulating in Sweden dropped by 10% in 2023.

Erik Thedéen, governor, Riksbank, said: "Payments must work for everyone. In the longer term, all payments may be digital - but until then, cash plays an important role. We need legislation to ensure that cash can be used to pay.

"Banks must also ensure that more customers have access to payment accounts. These are important prerequisites for everyone to be able to pay today and in the future."

Saldo Bank expands to Sweden

Finnish neobank Saldo Bank began operating in Sweden, hoping to attract customers with interest rates of up to 5% on one year's fixed-term accounts.

The fintech received its specialised banking license from the ECB in 2023, before getting the green light to begin banking services in Finland later that year.

Klarna IPO anticipated

The Swedish BNPL fintech is anticipated to have its IPO later this year after it reported a net loss for the fifth year in a row.

Yet after this report, Klarna was fined SEK 7.5 million ($733,000) by the Swedish Authority for Privacy Protection (IMY) for failing to provide customers with sufficient information on how it stores personal data.

Danish fintech Safty raises DKK11.3 million

Safty raised DKK11.3 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, along with machine learning technology, to provide banks with insights into customer needs.

Zwipe backs out of payment card market

Norwegian biometric card company Zwipe backed out of the payments market following a lack of uptake for its fingerprint-powered contactless cards.

The firm is commencing a restructuring and a new strategic direction, turning its attention instead to the biometric access control market.

Register here for NextGen Nordics 2024. See the full agenda here. If you would like to find out more about sponsoring the event, please email events@finextra.com.

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