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Will cash disappear from Sweden’s shops?


More Swedish shops introduce cashless shopping

There has been a 10% reduction in the use of cash in Sweden over the last five years, leading some to believe that a cashless society may be around the corner. Some stores have cut out payments in cash completely, accepting only cards at the counter, a move that has implications for incoming tourists. However, so far it’s mostly stores that only local residents visit that accept only cards, most recently the telecom operator Telia, which has banned cash from being accepted in its 80 shops nationwide.
But financial analysts say that more and more Swedish stores will switch completely to cards before the Riksbank, Sweden’s central bank, introduces updated banknotes to the currency system in 2015 and as banks reduce their numbers of branch offices.
The Local
[pictured: Beyond Retro store, Södermalm, Stockholm; photo by Tuukka Ervasti/ imagebank.sweden.se]


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