Riksbank predicts Sweden will be ‘cashless’ within five years
05 Dec 2018

Sweden is likely to become cashless within the next five years, the deputy governor of the country’s central bank, Cecilia Skingsley, predicted on Tuesday.

The use of notes and coins has been declining in Sweden for years and instant mobile phone payments and other new technologies means it is has now dwindled to almost insignificant levels.

“Sweden will probably become cashless in 3-5 years,” Riksbank deputy Skingsley said at a London banking conference.

– By Marc Jones, Reuters, 4 December 2018.

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