Sweden Leads in Cashless Transactions

Sweden Leads in Cashless Transactions

It turns out that there is more to Sweden than fjords, Volvo and smorgasbord. By 2030, Sweden could become the first country in the world to become a truly cashless society. Today, 80% of all transactions in Sweden are done electronically, or by debit card. Also read "Sweden and Norway to Bitcoin VAT - Norway to Implement Bitcoin Tax". Bengt Nilervall at the Swedish Federation of Trade, or Svensk Handel says that Sweden and the rest of Scandinavia lead the world in terms of cashless trading. Swedes on average perform an average of 260 transactions each year using their debit and credit....


Related News

Cashless Society? No Thanks

Every day one hears about the impending demise of physical cash - the dirty coins and banknotes that our grandfathers used for everyday transactions, and some filthy criminals still use today - and the upcoming transition to a cashless society. To us geeks that seems initially a good idea - more virtual, more wired, more connected, more cyber - but then one has second thoughts. Cashless society? I say NO, thanks. Not yet. Sweden Leads in Cashless Transactions. Cashless as they intend it means 24/7 surveillance. It's a tool of Big Brother. If you have doubts, let me lay them to rest for....

Sweden has plans to become the world's first Cashless Country

Sweden has plans to become the world's first Cashless Country. The European country says that cash is becoming increasingly falling into disuse. Sweden is trying to become the world's first cashless society. This has been highly motivated by the IT industry in the country which as seemingly helped the country to crackdown on a series of organised crime institutions. It seems that the new P2P payment systems and payment mobile systems have been revolutionizing the way people use their money. The latest advancements on several financial technologies, including bitcoin, have led the country....

A Cashless Society is Economic Apartheid (Without Bitcoin)

As Denmark and Sweden spearhead the move to a cashless society, the ramifications of such a transition for humanity as a whole could result in the exclusion of certain groups and classes. A cashless society is one where people do not use physical cash; all purchases are made by credit cards, charge cards, checks or direct transfer from one account to another (e.g. Bitcoin, PayPal etc.). And while many would argue that most of world’s money is already in digital form — over 95% — we still need to completely eliminate physical cash and coins to enter the cashless era. “The Swedish central....

Sweden to Become World’s First Cashless Country

A study by the KTH Royal Institute of Technology in Stockholm shows that Sweden is on track to become the world’s first cashless country. Today, five of six major banks in Sweden are already refusing to operate with cash. As a result, and considering the latest Tax Authority guidelines, Bitcoin has the potential to become a commonly used currency in Sweden. People are becoming increasingly accustomed to using bank cards to pay even for the smallest purchases in Sweden with four out of five purchases made electronically. Now, with the increasing penetration of mobile and P2P payment....

Sweden: The Road Toward a Cashless Society

Since October 2014, the Swedish National Bank, also known as Riksbank has cut its interest rates below zero. That means that for well over a year the people of Sweden have been paying the banks to keep their accounts and credit cards accessible. According to a study published by a group of industrial technologists led by Niklas Arvidsson at the Royal Institute of Technology in Stockholm, banks and economists are pushing a "cashless society" due to the rapid growth of digital transactions, secure online medium of payments and the sudden decay of cash. Arvidsson and his team of researchers....

Quotes

We want to give our fans as many options to buy our new album as possible, and are happy that Bitcoin can be one of those choices.

Mastodon, US metal band on Warner Bros. Records