Sweden to be cashless before 2030

Visa cardsVisa cards.Photo: pixabay.com
Two thirds of Sweden’s distributors believe they will stop accepting cash by 2030, according to a survey by the Royal Institute of Technology (KTH).

 

“This is moving forward, very fast now. For banks, cash handling involves only one cost. Cash will only exist as long as people and shops demand it, “says researcher at KTH, Niklas Arvidsson, to Svenska Dagbladet.

Arvidsson, like two-thirds of Sweden’s distributors, believes that Sweden can be cashless by 2030.

The KTH report has 740 distributors from several industries that handle large amounts of cash, said in their opinion.

According to Swedish Trade, about 80 percent of all transactions in Sweden are already made by card.

© NTB Scanpix / Norway Today

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