September 12, 2017

CASH OUT:

Why Sweden is close to becoming a cashless economy (Maddy Savage,12 September 2017, BBC)

Amongst the other typically Scandinavian touches - minimalist white tiles and exposed filament light bulbs - is another increasingly common sight in the Swedish capital: a "We don't accept cash" sign.

"We wanted to minimise the risk of robberies and it's quicker with the customers when they pay by card," says Victoria Nilsson, who manages two of the bakery chain's 16 stores across the city.

"It's been mainly positive reactions. We love to use our cards here in Stockholm."

Across the country, cash is now used in less than 20% of transactions in stores - half the number five years ago, according to the Riksbank, Sweden's central bank.

Coins and banknotes have been banned on buses for several years after unions raised concerns over drivers' safety.

Even tourist attractions have started to gamble on taking plastic-only payments, including Stockholm's Pop House Hotel and The Abba Museum.

Posted by at September 12, 2017 7:13 AM

  

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