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Sweden Is Upgrading Its Payment System
Sweden is making big changes to the way payments work. The organisation Bankgirot will stop offering several of its traditional payment services and file formats by 2026. This is part of a bigger plan to modernise the country’s financial infrastructure and switch to a smarter, international standard: ISO 20022 XML and NPC Credit Transfer Rulebook.
It might sound technical, but in short – it means payments will be faster, safer, and carry more useful information.
So what does this mean for your business? Let’s break it down in simple terms.
Why Is This Happening?
The current Bankgirot system is a patchwork of old solutions. As the world goes digital, Sweden needs a payment system that keeps up. The new setup will:
- Support real-time payments
- Allow for more detailed info with each transaction
- Be more stable and efficient
- Follow updated European rules and standards
What This Means for Businesses
- New Bank Connections:
- If you send payments today through Bankgirot, you’ll need to set up connections directly with your bank instead.
- If you send payments today through Bankgirot, you’ll need to set up connections directly with your bank instead.
- Tighter Rules:
- You’ll need to include both the payer’s and the receiver’s names, and follow stricter rules for payment references. Your ERP system may need updates.
- You’ll need to include both the payer’s and the receiver’s names, and follow stricter rules for payment references. Your ERP system may need updates.
- Some Services Will Disappear:
- Key services like supplier payments, salary payments and money orders will be discontinued.
Which File Formats Are Effected?
🛑 Will be discontinued:
- Leverantörsbetalningar (Supplier Payments)
- Bg-Lön (Payroll)
- Bankgiro Värdeavi (Money Orders)
- Bankgiro Inbetalningar (Incoming Payments)
👍 Will continue as normal:
- Autogiro
- Bankgirot E-faktura
– no changes here! These formats will work just as it does today (for now).
The Upside: What ISO Brings
It’s not just about changes – it’s about improvements too!:
✅ More info with each payment: Useful for bookkeeping and reconciliation.
✅ Easier matching: Easier to match payments with invoices.
✅ More flexibility: Multiple clearing times during the day.
✅ Standardised across Europe: Easier to do business and make payments internationally
What You Can Do Now
The move to the new payment infrastructure (excluding Autogiro) is being coordinated by Bankgirot, following a market-agreed transformation plan. According to this plan, the transition will begin in Q2 2026, with the goal of being fully completed before the end of 2026.
Here's how you can prepare:
- Talk to your bank: Each bank has its own timeline – make sure you know what yours expects.
- Update your ERP or accounting system: Get ready to support ISO 20022 XML.
- Plan ahead: Let your team and customers know what’s changing, and prepare for the services that are going away.
How Aritma Can Help
At Aritma, we’ve helped hundreds of businesses make the move to ISO 20022. Our solutions are built to make this switch as smooth and quick as possible.
We can help you by:
✔ Connecting you to banks easily – without needing a custom setup for each one.
✔ Making sure you’re compliant with the new payment rules.
✔ Updating your ERP integrations to work with the new formats.
👉 Learn more about how we’ve helped other businesses like yours.
Final Thoughts
Yes, the phase-out of Bankgirot’s services is a big change. But it also opens up a more modern, flexible future for payments in Sweden. If you start early and plan ahead, the transition can be a smooth one. And Aritma is here to help you every step of the way.
Want to learn more or get help with your transition? Reach out now!
Sources:
Svenska Transformationsprogrammet
