"Finland, Sweden, Norway, Denmark and Estonia are rolling out offline card payment systems to provide a back-up if internet connections are lost, including due to sabotage, Bank of Finland board member Tuomas Valimaki said on Wednesday. ... Sweden's central bank told Reuters that it hoped to establish a system by July 1, 2026, that would allow Swedes to make offline card payments to buy essential goods in the event of disruptions lasting up to seven days."

https://www.reuters.com/business/finance/nordics-estonia-plan-offline-card-payment-back-up-if-internet-cut-2025-05-07/

#cardpayments #businesscontinuity #offlinepayments #informationsecurity

ECB is seriously looking for a first class offline payment capability in the digital euro. This is a hard engineering problem to do in a secure manner, as seen by #EMV flaws throughout the years.

"The current procurement procedure focuses on a solution to make offline digital euro payments available to users and merchants across Europe. The ability to pay offline, with no third party involved in the transaction is a key feature of the digital euro, both for resilience and privacy purposes. The solution will need to enable instant and final settlement, consecutive offline payments, the ability to pay in proximity in P2P or POS scenarios and include the possibility to fund and defund online (via a smartphone) or at an ATM, also using cash."

https://www.coindesk.com/policy/2024/01/11/european-central-bank-shows-its-serious-about-enabling-digital-euro-offline-use/

#digitaleuro #ecb #cbdc #offlinepayments

Cyrus Minwalla, John Miedema, Sebastian Hernandez, Alexandra Sutton-Lalani, A central bank digital currency for offline payments, Bank of Canada Staff Analytical Note 2023-2, February 2023

— Available here: https://www.bankofcanada.ca/2023/02/staff-analytical-note-2023-2/

#CBDC #digitalcurrency #rCBDC #OfflineCBDC #fintech #banking #financialservices #payments #offlinepayments #paymentsystems #riskmanagement #operationalrisk #operationalresilience #cyberrisk #compliance #financialinclusion #financialinnovation #BankofCanada #Canada