Nordics Plan Offline Card Payments to Counter Cyber Sabotage Threats

As geopolitical tensions escalate in Europe, Finland, Sweden, Norway, Denmark, and Estonia are moving to deploy offline card payment systems as a contingency against potential internet disruptions — including those caused by sabotage. The move comes amid growing concerns over critical infrastructure security in the Baltic Sea region.

A Rising Threat Landscape

Bank of Finland board member Tuomas Valimaki (pictured) confirmed on Wednesday that the offline payment initiative was being accelerated due to increasing risks associated with hybrid warfare tactics, including cyberattacks targeting financial systems.

“The likelihood of major disruptions has increased because the geopolitical situation has changed worldwide,” Valimaki told Reuters, citing the war in Ukraine and the surrounding hybrid influence operations. “Payments are a potential target because of their critical role in everyday life.”

Highly Digital, Highly Exposed

Finland is one of Europe’s most cashless societies — with only about 10% of citizens using cash as their primary payment method. This high reliance on card transactions makes the country, and the broader Nordic region, particularly vulnerable to payment infrastructure outages.

Since card payments depend on functioning international data networks, offline payment solutions have become a strategic priority. These systems would allow payment terminals to securely encrypt and store transaction data locally until connections can be restored.

Nordics Lead the Way

Sweden’s central bank is targeting July 1, 2026, for launching a system capable of supporting offline card payments for essential goods during week-long outages. Norway and Denmark have already begun rolling out similar electronic offline payment services, while Estonia is expected to follow soon.

A Wake-Up Call for Europe’s Payment Dependencies

Valimaki also sounded the alarm on Europe’s heavy dependence on U.S.-based payment networks Visa and Mastercard. “We may feel like we have options, to pay with debit or credit or with Apple Pay for example, but all of those function via the Visa and Mastercard infrastructure,” he warned.

He emphasized the need for diversification, suggesting that alternative domestic systems and instant payment platforms should be developed across Europe. Finland plans to roll out its own instant payment network within the next few years, alongside its offline card payment solution expected to be available to consumers as soon as next year.

Interesting Aside: Finland’s Financial Resilience Plan

In a related effort to bolster financial security, Finland is also introducing a national reserve bank account system. This would enable citizens to access their funds even if their primary bank became incapacitated during a crisis — another proactive step in securing essential services in uncertain times.

Context: A Region Under Pressure

Last year’s prolonged denial-of-service attacks against Nordea, the largest bank in the Nordics, which left customers unable to access their online accounts for weeks, underscored the vulnerabilities in the region’s digital financial systems.

Adding a geopolitical dimension to the issue, Valimaki hinted at the risk of foreign influence over payment infrastructure, remarking: “We cannot rule out that one night someone on Truth Social comes up with using payments as a pressure tactic.”