Sweden is close to becoming a cashless society. In shops, cash is now used for just 20% of transactions, a figure that is expected to fall to 10% by 2020. And, according to an unpublished reported by Stockholm’s Royal Institute of Technology (KTH), and the Stockholm School of Economics, cash will be extinct in shops by 2023.
On Tuesday, Riksbank Governor Stefan Ingves entered the debate, urging lawmakers to protect cash payments. Björn Eriksson, chair of “Kontantupproret” (Cash Uprising), welcomes the governor’s initiative, although the problem is more wide-reaching than a “sensitive system”. A million people will be “excluded” when cash disappears from shops, he says, emphasising that “other countries do not understand what we are up to”.
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