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Nordic Countries and Estonia Develop Offline Card Payment Systems Amid Sabotage Fears

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Finland, Sweden, Norway, Denmark, and Estonia are jointly developing offline card payment systems to ensure financial continuity in the event of internet disruptions, including potential sabotage of undersea infrastructure, Bank of Finland board member Tuomas Valimaki told Reuters on Wednesday.

The move follows increasing geopolitical tensions, notably Russia’s invasion of Ukraine, and a series of unexplained incidents damaging critical infrastructure in the Baltic Sea region. Western intelligence agencies have blamed Russia for acts of sabotage, which Moscow denies.

“The likelihood of major disruptions has increased,” said Valimaki. “Payments are a potential target because of their critical role in everyday life.”

With 90% of Finns relying on card payments, the region is especially vulnerable to disruptions in international data links—many of which are reliant on U.S. infrastructure like Visa and Mastercard.

What Offline Payments Could Look Like:

Offline payments would allow card terminals to store encrypted transaction data, which could then be processed once connections are restored.

  • Sweden aims to launch its system by July 1, 2026, allowing purchases of essential goods during disruptions lasting up to seven days.

  • Norway and Denmark have already deployed initial offline systems.

  • Estonia is also developing a solution, though its central bank has not provided public details.

The Nordic region’s urgency has been heightened by events such as the Nordea DDoS attacks in 2023, which left customers without access to online banking for weeks.

Valimaki also warned of the dominance of U.S. payment networks, suggesting that even services like Apple Pay and Google Pay rely on the Visa-Mastercard infrastructure, and are therefore subject to geopolitical pressure.

“We cannot rule out that one night someone on Truth Social comes up with using payments as a pressure tactic,” he said, referencing the platform where U.S. President Donald Trump frequently shares his policy views.

To enhance payment sovereignty, Finland is planning to:

  • Launch a national instant payment system within a few years.

  • Enable offline card payments for consumers as early as 2025.

  • Introduce national reserve bank accounts, ensuring Finns can access their funds even if commercial banks go offline.

Meanwhile, the European Central Bank’s proposed digital euro may one day offer pan-European instant payments, but Valimaki cautioned that full implementation is still years away, even with political support.

At a separate event in Helsinki, NATO’s Christian-Marc Lilflander called for finance ministers to play a larger role in national security discussions, especially around financial infrastructure resilience.

Europe’s Defence Push Inspires Young Innovators at Amsterdam Hackathon

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A hackathon held over the weekend in Amsterdam gathered more than 100 young programmers and engineers, aiming to create fast, affordable battlefield technologies to support Ukraine in its war against Russia. As Europe ramps up military spending in response to U.S. President Donald Trump’s warnings about pulling back NATO commitments, young tech talent is increasingly looking toward defence careers.

Participants of the hackathon, organised by the European Defense Tech Hub (EDTH) and Ukraine’s Brave1 defence accelerator, explored innovations ranging from drones and anti-drone tech to squad radar systems and seismic wave detection for enemy movement. While some attendees arrived with startup ambitions, others were there to network or show solidarity with Ukraine.

Among them was Emil Knutsson, a 24-year-old Swede, who noted a broader generational shift. “Even before the Russian invasion, I was interested in defence. But now, many of my peers are thinking the same way,” he said.

Interest in the event was further fuelled by recent geopolitical developments. According to Benjamin Wolba of EDTH, events like the Munich Security Conference and Trump’s more conciliatory tone toward Russia have created a renewed sense of urgency across Europe to invest in its own security infrastructure.

The hackathon also highlighted how defence innovation is no longer limited to governments or legacy contractors. Attendee Andreas Michaelides, whose team developed a seismic sensor system, said, “Every single one of us can get into this now,” pointing to the democratization of military tech development, especially in software and drone warfare.

Investor interest is also growing. Judge Bram Oostvogel of NUNC Capital, which recently announced a €20 million fund for early-stage defence startups, sees Ukraine as a real-world testing ground for ideas that could plug security gaps across Europe.

“First, you take care of security and safety – not Facebook likes,” Oostvogel said, emphasizing the shift in focus among both investors and innovators as the continent faces rising geopolitical threats.

With more hackathons planned across Europe this year, EDTH sees this as just the beginning of a new wave of grassroots defence innovation.

Italy’s Parliament Rejects Opposition Amendments to Space Bill

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Italy’s parliament has rejected opposition amendments to a space bill that aimed to prevent the government from acquiring satellite services from non-EU companies, including those owned by U.S. tech billionaire Elon Musk. The amendments, proposed by the Democratic Party (PD), were viewed by some as attempts to limit competition in favor of European entities.

The draft bill, which still requires approval from both houses of parliament, outlines a framework in which Italy’s communications would be transmitted solely through satellites owned by operators based in the EU or the Atlantic Alliance (NATO). The goal is to ensure secure satellite communications for Italian diplomats and officials working in high-risk regions.

PD lawmakers sought to impose additional restrictions, proposing that Italy only work with non-EU satellite providers when absolutely necessary. They also pushed for exclusive Italian ownership and control over encryption and software and hardware components used in such services. However, the ruling coalition led by Prime Minister Giorgia Meloni opposed these amendments.

Among the companies that could potentially provide these satellite services is Starlink, a satellite internet service owned by Musk’s SpaceX. Starlink has been a key contender for securing the government contract. However, the PD has voiced concerns about working with Musk, a prominent ally of former U.S. President Donald Trump, describing the proposed deal as an “anti-Musk” move.

Andrea Stroppa, a representative for Musk in Italy, criticized the opposition’s stance, describing it as a “crusade” against the billionaire and warning that Starlink is not a “toy for politicians.” Additionally, other companies like Franco-British satellite operator Eutelsat (ETL.PA) have also been in talks with the Italian government regarding the secure communications contracts.

The rejection of the amendments has sparked debate, with PD lawmaker Andrea Casu calling for better guarantees regarding the use of public funds, especially when foreign companies are involved.