Sweden leading the way to become cashless society
Sweden is fast becoming cashless.
Click here for reuse options!“I don’t use cash any more, for anything,” said Louise Henriksson, 26, a teaching assistant. “You just don’t need it. Shops don’t want it; lots of banks don’t even have it. Even for a candy bar or a paper, you use a card or phone.”
Swedish buses have not taken cash for years, it is impossible to buy a ticket on the Stockholm metro with cash, retailers are legally entitled to refuse coins and notes, and street vendors – and even churches – increasingly prefer card or phone payments.
According to central bank the Riksbank, cash transactions made up barely 2% of the value of all payments made in Sweden last year – a figure some see dropping to 0.5% by 2020. In shops, cash is now used for barely 20% of transactions, half the number five years ago, and way below the global average of 75%.
And astonishingly, about 900 of Sweden’s 1,600 bank branches no longer keep cash on hand or take cash deposits – and many, especially in rural areas, no longer have ATMs. Circulation of Swedish krona has fallen from around 106bn in 2009 to 80bn last year.
Copyright 2016 Liberaland
4 responses to Sweden leading the way to become cashless society
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Suzanne McFly June 4th, 2016 at 16:31
What do they stick in g-strings, debit receipts?
bpollen June 5th, 2016 at 01:33
Perhaps I am being a little paranoid, but all your purchases will be recorded and will be in a searchable database somewhere. Which means it is hackable, and available for the Gubmint to exploit for their own purposes, too.
fahvel June 5th, 2016 at 04:16
I suggest you be very parnoid because when you no longer have control over the finacial aspects of your life you become tyhe tool – or bigger tool – of the people getting you value a la a card – it’s a bullsht future.
Emma Bishop June 5th, 2016 at 05:25
I would love to live in Sweden. Such progressive people.