Large decline in cash use during the Coronavirus outbreak

Credit cards and cashCredit cards and cash.Photo: Jon Olav Nesvold / NTB scanpix

Cash use in April was more than 40 percent lower than during the same month last year.

Previously, the decline has been 6–7 percent a year, writes NRK.

The decline in cash use started after the government imposed the Coronavirus restrictions on March 12. Since then, many stores have stopped accepting cash.

Withdrawal of cash from ATMs has fallen by 50 percent after March 12.

Information Director Tom Staavi in Finance Norway believes that cash will gradually disappear from Norwegian society.

– The authorities must control that. But it is obvious that the fewer people who spend cash, the less need it will have.

© NTB Scanpix / #Norway Today


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