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Can You Imagine a 'Cashless Society'? Sweden is Nearly There

posted by janrinok on Tuesday November 10 2015, @06:59AM   Printer-friendly
from the silent-cha-ching-noise dept.

Phoenix666 writes:

A new study out of Sweden says the tiny country is on course to become the world's first "cashless society," thanks in part to a mobile payment app called Swish.

The Royal Institute of Technology in Stockholm released a statement in October quoting researcher Niklas Arvidsson, who said cash is an important means of payment in many countries, "... but that no longer applies here in Sweden."

Arvidsson and his team of researchers said there are about 80 billion Swedish crowns in regular circulation, down from 106 billion six years ago. "And out of that amount, only somewhere between 40 and 60 percent is actually in regular circulation. ... Our use of cash is small, and it is decreasing rapidly."

Swish has more than 3.5 million users (of Sweden's total population of 9.5 million) and nearly 4.5 billion Swedish crowns were "Swished" in October.

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  • (Score: 0) by Anonymous Coward on Tuesday November 10 2015, @09:34PM

    by Anonymous Coward on Tuesday November 10 2015, @09:34PM (#261442)

    My high school was in the middle of farming country.
    A bunch of my classmates lived on such roads and every one of them had a mailing address (e.g. Rural Route 7, Box 62).
    Do you have to go into town or some such to check your mail?

    -- gewg_