Nets, part of Nexi Group, says Norway lacks a shared model for sharing financial and operational risk during power or network outages. It also points to digital sovereignty and unclear liability when AI agents pay on consumers' behalf.
Norway is among the world's most digitalized societies when it comes to payments, but its level of preparedness has not kept pace. During a national industry debate on the future of payment infrastructure, Nets, part of the European payments company Nexi Group, called for formalized cooperation between authorities, the central bank, the financial industry and retailers. “The technology for offline payment exists, but it doesn't help much if the shopkeeper is afraid to accept the card because liability is unclear,” says Lars Erik Tellmann of Nets/Nexi Group.
“Today Norway has one of the world's most efficient payment systems. The challenge arises the day the power or the telecom network disappears. 'How do we pay when the lights have gone out?' is no longer a hypothetical question, but a real societal security challenge. The answer can't be left to the individual shop employee, a single bank or the technology providers alone,” says Tellmann.
The debate on offline payment and backup solutions has long focused on terminal capacity and card technology. Tellmann argues the focus must now shift to who bears the potential financial loss if a crisis lasts over time. “Today's solutions offer good baseline protection, but if offline limits are exceeded during a prolonged crisis, we face an unresolved gap. It doesn't help that the terminal can technically complete a purchase if retailers fear losses from a lack of coverage. We need a national risk-sharing model in place, to avoid panic when a crisis hits,” he says.
Tellmann also highlights strategic autonomy for European and Nordic payments as part of preparedness. Around two-thirds of all card payments, in-store and online, in Norway and Europe are currently processed through global players, according to Tellmann.
Nexi is part of the Wero project and one of the founders of EPI (European Payments Initiative). In September, a joint venture between EPI and EuroPA called the European Network for Payments (ENP) was launched, aiming to bring wallet solutions together across Europe so that a local payment solution can also be used in other countries. From the Nordics, Vipps MobilePay in Denmark, Sweden and Norway, and Swish in Sweden, are part of the collaboration.
The digital euro is also nearing launch, with the first issuance planned for 2029. Nexi Group is taking part in a pilot project tied to the digital euro, where the company's task, according to Tellmann, is to help ensure the infrastructure is robust, secure and user-friendly. Norway is neither an EU member nor part of the eurozone, but many Norwegians hold assets in the eurozone, and tourists will, according to Tellmann, come to Norway with the digital euro as their preferred payment method. He argues Norwegian merchants should therefore be able to accept the digital euro.
With the arrival of autonomous purchasing agents acting on consumers' behalf, Tellmann says regulation and security standards must rise in step with the pace of innovation. “Agentic commerce will radically change consumer behavior. When algorithms take over the moment of payment, liability must be crystal clear. If a digital agent is manipulated, there must be no doubt about who is responsible. Technology companies, banks and regulators need to sit on the same side of the table to build robust defenses against fraud before volumes explode,” he says.
“No single player owns payment preparedness alone. The digitalization of Norwegian commerce has been about finding solutions together, across banking and technology communities. Nets and Nexi Group are ready to contribute our technology and operational experience to help ensure Norway and the Nordics remain safe, resilient and capable in any situation,” Tellmann concludes.
Sources: Nets/Nexi Group
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