In Sweden, a Cash-Free Future Nears

DjPe5h Mon, 12/28/2015 - 12:56

Parishioners text tithes to their churches. Homeless street vendors carry mobile credit-card readers. Even the Abba Museum, despite being a shrine to the 1970s pop group that wrote “Money, Money, Money,” considers cash so last-century that it does not accept bills and coins.

Few places are tilting toward a cashless future as quickly as Sweden, which has become hooked on the convenience of paying by app and plastic.

This tech-forward country, home to the music streaming service Spotify and the maker of the Candy Crush mobile games, has been lured by the innovations that make digital payments easier. It is also a practical matter, as many of the country’s banks no longer accept or dispense cash.

Bills and coins now represent just 2 percent of Sweden’s economy, compared with 7.7 percent in the United States and 10 percent in the euro area. This year, only about 20 percent of all consumer payments in Sweden have been made in cash, compared with an average of 75 percent in the rest of the world, according to Euromonitor International.

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DjPe5h's picture
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Origanalist's picture

I use cash almost exclusively, the move away from cash is nothing more than a move to total control.

What if didn't want apple pie?

HVACTech's picture

why will we need "banks" once "cash" is banned?

and no. I do not miss RPF's.  :)



Origanalist's picture

They won't, so another form of currency will fill the black market void. Probably multiple forms as is already done just more of it.


What if didn't want apple pie?

stm's picture

if they shut down systems? I remember when the supermarket's electricity went down and everyone was at a loss as to what to do. They couldn't even ring anything up! A 'smart' supermarket would keep a couple of manual registers on hand. lol

Most don't even understand that a deposit is considered a loan to a bank. Maybe a simple way to get people to understand that is to explain that if it's not in your possession, you don't own it.

I actually try to use cash as much as possible. I don't want them to know where I'm shopping and what I'm buying.

Laugh. It makes you feel good.

Joeinmo's picture

nothing like an easy way to wipe everything your have with a single key stroke