Sweden has the largest digital commerce market in the Nordic region. The country’s strong position is supported by its high purchasing power, its stable economy and a marginal yet significant increase in its population.
In 2019, mobile devices played an ever-increasing role in digital commerce in Sweden. Mobile-based platforms continued to disrupt established industries.
Digital commerce in Sweden is not simply characterised by a transition from bricks-and-mortar commerce setting to an online environment. New business models in the sharing economy (such as ride-sharing) and subscription-based services are emerging across various industries.
Swish, a prominent digital wallet launched in Sweden in 2012, continued to be one of the most popular payment methods in the Swedish market. In July 2019, Swish launched a pilot version of its proximity payment solution, signifying the company’s ambition to make Swish a truly universal payment method that would also be used in stores.
Cross-border e-commerce is facing some difficulties in Sweden. Since March 2018, Postnord, a Swedish postal company, has started charging a fee of SEK75 for every product delivered from China.
In 2019, all of the major proximity digital wallets developed by the largest tech companies were present in the Swedish market – the list includes Apple Pay, Google Pay and Samsung Pay. The biggest issue was usually the lack of bank support for tokenised card payments – as a result, most cardholders in Sweden were not able to link their physical debit/credit card to a proximity digital wallet.
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