Payments and e-commerce in Sweden

Discover how Swedes like to shop and pay online

Sweden

General Information

  • Population 10.2 m
  • Population 15 + 8.4 m
  • Online population 9.8 m
  • Area 450,295 km2
  • Currency SEK
  • GDP 622.4 bn $US
  • GDP per capita 61,256 $US
  • Card-based payments
  • Cash-based payments
  • Bank transfer
  • Wallets
  • Other
[{"label":"Card-based payments","value":"32"},{"label":"Cash-based payments","value":"1"},{"label":"Bank transfer","value":"17"},{"label":"Wallets","value":"20"},{"label":"Other","value":"30"}]
Banked population
  • Sweden 100%
  • Western & Central Europe 96%
  • World 67%
Credit card penetration
  • Sweden 45%
  • Western & Central Europe 47%
  • World 19%
Internet penetration
  • Sweden 96%
  • Western & Central Europe 92%
  • World 62%
Smartphone penetration
  • Sweden 91%
  • Western & Central Europe 81%
  • World 70%

Sustainability is very important to Swedes when they research products online, particularly for women aged 65 to 79 years old. 60 % of this age group report always keeping sustainability in mind when shopping online. 

In May 2022 the Swedish central bank, Riksbank, launched a new service RIX-INST which allows banks to make payments between each other in real time, 24 hours a day, 365 days a year. This will create opportunities for Swedish payment companies to create new services.

According to a survey carried out during the first quarter of 2022, the most sought after innovation for e-commerce, was across all age groups, frictionless payments.

The most popular e-commerce website in Sweden in July 2022 was blocket.se with 32 m visits.

Future e-commerce trends (2021-2026)

B2C e-commerce ($US billion)
2022 39.5
2023 44.3
2024 49.2
2025 54.0
2026 58.9
E-commerce spending per capita ($US)
2022 3768
2023 4241
2024 4652
2025 5088
2026 5524
E-Commerce spending as % of GDP
2022 6.3%
2023 6.8%
2024 7.3%
2025 7.7%
2026 8.1%

Sweden

The E-Commerce Market

Top e-commerce segments

  1. Fashion: 31%
  2. Electronics & Media: 23%
  3. Toys, Hobby & DIY: 18%
  4. Furniture & Appliances: 15%
  5. Food & Personal Care: 12%

Cross-border e-commerce

  1. Cross-border proportion of total e-commerce – 14%
  2. Value of cross-border e-commerce – 5.0 bn $US
  3. Online shoppers who have shopped cross-border – 49%

Top 3 cross-border shopping origin markets

  1. China: 29%
  2. Germany: 20%
  3. UK: 11%
B2C e-commerce growth 20->21
  • Sweden 9.7%
E-commerce % of total retail
  • Sweden 21%
  • Western & Central Europe 17%
  • World 20%
E-commerce completed on a mobile device
  • Sweden 40%
  • Western & Central Europe 44%
  • World 53%

The Credit Card Split

  • Visa
  • Mastercard
  • American Express
[{"label":"Visa","value":"38"},{"label":"Mastercard","value":"61"},{"label":"American Express","value":"1"}]
  • E-commerce market size 34.5 bn $US
  • E-commerce spending per capita 3,308 $US
  • E-commerce spending as % of GDP 5.8%

The information on our Insights pages has been compiled by us in cooperation with Datamatics and Wright & Brown. The data shown is partially owned by us and partially owned by GlobalData. © 2021 by PPRO Financial Ltd. No data and information can be used for any further publication without the explicit approval of PPRO.

Sweden

Local Payment Methods

BitPay Type Cryptocurrency Wallet Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 3 Hyperwallet Type Bank transfer, Gift card, Prepaid voucher Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 3 Market relevance High PayPal Type Wallet Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 3 Market relevance High Paysafecard Type Prepaid voucher Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 3 Paysafecash Type Cash Regions Eastern Europe & the CIS, North America + 1 Paysera Type Wallet Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 3 Market relevance High SEPA Direct Debit Type Bank transfer Regions Eastern Europe & the CIS, Western & Central Europe Market relevance High Skrill Type Wallet Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 3 Market relevance High Trustly Type Bank transfer Regions Eastern Europe & the CIS, North America + 1 Market relevance High TrustPay Type Bank transfer Regions Eastern Europe & the CIS, Western & Central Europe Allied Wallet Type Wallet Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 3 Market relevance High UnionPay SecurePay Type Local payment card Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 3 Market relevance High Apple Pay Type Wallet Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 3 Market relevance High Amazon Pay Type Wallet Regions Asia Pacific, Eastern Europe & the CIS, North America + 1 Market relevance High DaoPay Type Carrier billing Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 3 Market relevance High Google Pay Type Wallet Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 3 Market relevance High Klarna Type Bank transfer, Buy Now, Pay Later, Instalments Regions Asia Pacific, North America, Western & Central Europe Market relevance High Masterpass Type Wallet Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 3 Market relevance High Mobiamo Type Carrier billing Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 3 Market relevance High Nordea e-betalning Type Bank transfer Regions Western & Central Europe Market relevance High Razer Gold Type Wallet Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 3 Market relevance High Samsung Pay Type Wallet Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 3 Market relevance High SEPA Credit Transfer Type Bank transfer Regions Eastern Europe & the CIS, Western & Central Europe Market relevance High SWIFT Type Bank transfer Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 3 Market relevance High Swish Type Wallet Regions Western & Central Europe Market relevance High Secure Remote Commerce (SRC) Type Wallet Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 3 Market relevance Medium SEPA Instant Credit Transfers (SCT Inst) Type Bank transfer Regions Eastern Europe & the CIS, Western & Central Europe Market relevance Medium Ålandsbanken Type Bank transfer Regions Western & Central Europe Boloro Type Wallet Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 3 G2A Pay Type Wallet Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 3 Market relevance Medium Handelsbanken Type Bank transfer Regions Western & Central Europe Microsoft Pay Type Wallet Regions North America, Western & Central Europe NETELLER Type Wallet Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 3 Paylevo Type Buy Now, Pay Later Regions Western & Central Europe Siru Mobile Type Carrier billing Regions Western & Central Europe Zimpler Type Wallet Regions Western & Central Europe Splitit Type Instalments Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 3

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