• Sweden edition
 
More Swedish shops dropping cash for cards

More Swedish shops dropping cash for cards

Published: 09 Oct 2012 17:46 GMT+02:00
Updated: 09 Oct 2012 17:46 GMT+02:00

Sweden has seen a decrease of around 10 percent in cash usage nationwide over the past five years, a trend that has prompted more and more shops to accept only cards at the counter.

One of the latest companies to make the move to cards only was Swedish telecom operator Telia, which recently put a complete stop to cash in its 80 shops nationwide.

The most common arguments for switching from cash to card are that using hard currency can be a threat to staff safety, can be complicated, and can prove expensive.

Another example of a cashless store is bedding manufacturing chain Kungsängen, which cut out cash at all 37 of its stores on September 30th this year.

“We want to ensure the safety of our staff,” said Robert Uggla of the company to the Metro newspaper.

Meanwhile the Riksbank, Sweden's central bank, is in the process of preparing for the 2015 introduction of updated bank notes into the Swedish currency system.

“We don’t think cash will disappear in the foreseeable future,” explained the Riksbank’s departmental chief Christina Wejshammar to the paper.

“As long as it exists, and people want to use it, then it’s important that it’s good and safe and the bank notes need to be updated.”

However, a spokesperson for trade group Svensk Handel claimed that Swedish stores will likely switch to card before the new cash comes into play.

“We’re going to see an enormous cash deposit in the stores when the banks reduce the number of offices and service boxes get harder to access. The risks grow and many shops will choose to opt out of money handling before the shift,” Bengt Nilervall told the paper.

The manufacturing and introduction of the new bank notes will cost consumers an estimated 700 million kronor ($105 million), according to Metro.

TT/The Local/og

Follow The Local on Twitter

Don't miss...X
Left Right

Your comments about this article

19:50 October 9, 2012 by stateohio905
So, state will save our tax money on printing new bank notes, but who will pay credit card fees? For sure a merchant will includ it directly or indirectly in its price.
02:57 October 10, 2012 by alecLoTh
Even more worrying is who will access to mining this spending information - because it will leave a digital trail. With the covert agencies now having ennhanced powers, one can only imagine what would happen to someone if their cards were 'disabled' by such an agency in a system which does not accept cash.....hypothetical but plausible.

Marketing and big business will also be able to buy this spending information....we a re being farmed to spend.
07:00 October 10, 2012 by Da Goat
Yes precisely you must keep cash going as long as possible as your privacy will be lost and your freedom as well, control the money and you control the people!

and that is what "they" want complete control, if you don't tow the line yu can starve to death!
22:25 October 15, 2012 by matonbass
i predict that Sweden will be cashless witin 24months. then we are all trapped. debit charge to enter and exit stores. government controlling what you spend your money on. money does not exist so therefore employers can pay you existance credits depending on what social status you are. ( remember, without the plastic card you cant buy food ) as has been mentioned in a previous post. we are at this present moment already on the way to a cashless trap. cards are being used for everything and the banks can charge whatever they feel they want. ( they have your money first remember ? ) just imagine if your bank account showed 000000 balance. wht could you possibly do. the bank's computer rules. are you going to sue the bank ? they could disable your card ( as said in previous post ) then your screwed.
Today's headlines
Florida 'mystery knight' dies in Sweden
Michael Boatwright (R) and Medieval knight re-enactors.

Florida 'mystery knight' dies in Sweden

The "motel mystery" American who baffled US authorities by only speaking Swedish when he woke up from a coma last year has passed away, Swedish media reported on Wednesday. READ () »

Swedes open coffin of 850-year-old king
Photo: Bertil Ericson/TT

Swedes open coffin of 850-year-old king

UPDATED: Scientists pried open the 850-year-old casket of King Erik the Holy on Wednesday, hoping to find out more about the king, his crown, and his eating habits. READ () »

TeliaSonera announces first-quarter profit drop
TeliaSonera CEO Johan Dennelind. File photo: TT

TeliaSonera announces first-quarter profit drop

Stockholm-listed telecom operator TeliaSonera on Wednesday said profits had fallen in the first quarter, but hoped offering customers more data solutions in the future would turn things around. READ () »

'Imperfect EU better than revolting nationalism'
Fredrik Reinfeldt. File photo: TT

'Imperfect EU better than revolting nationalism'

Swedish Prime Minister Fredrik Reinfeldt on Wednesday urged young voters to head to the European parliamentary polls on May 25th "to cure the European disease of nationalism". READ () »

Ericsson quarterly profit defies sluggish sales
Ericsson CEO Hans Vestberg at the first quarter press conference. Photo: TT

Ericsson quarterly profit defies sluggish sales

Swedish telecom giant Ericsson on Wednesday announced a drop in sales but posted a sharp rise in first-quarter profit, which nonetheless fell shy of analyst predictions. READ () »

Fatal Norrköping brawl
Four brothers held as cops fear brawl reprisals
Photo: Johan Nilsson/TT

Four brothers held as cops fear brawl reprisals

Swedish police fear that several people involved in a brawl in eastern Sweden on Monday night may be seeking revenge after two brothers were shot dead. READ () »

Sponsored Article
Beautiful pearls of southeast Sweden
The town of Västervik.

Beautiful pearls of southeast Sweden

Ask a Swede, and they are likely to say that their favourite holiday spot is in the southeast of Sweden. Eastern Småland and Öland offer a smörgåsbord of all the things dearest to the Swedes - from the beloved children's book author Astrid Lindgren to deep forests, long sandy beaches, perfect spots for that all-important 'fika', and a surprising amount of space, peace and quiet. READ () »

Weekend weather to bring summer warmth
Swedes enjoy hot dogs and cherry blossoms in Stockholm's Kungsträdgården. Photo: Jessica Gow/TT

Weekend weather to bring summer warmth

The sun is set to stick around and temperatures could climb into the twenties over the weekend, Swedish meteorologists said on Wednesday READ () »

'Day-care rapist' admits molesting eight kids

'Day-care rapist' admits molesting eight kids

A 21-year-old man confessed on Wednesday to sex crimes against eight children at a day care where he was working as an intern. READ () »

Swedish cops nab man for having big muscles
An unrelated bodybuilder. File photo: Ann Törnkvist

Swedish cops nab man for having big muscles

Police in Sweden's south who hauled a muscular man in for steroid testing have had their knuckles rapped, after it was ruled that big biceps cannot be grounds for narcotics suspicions. READ () »

RECEIVE OUR NEWSLETTER AND ALERTS
TT
Gallery
Inside the 850-year-old king's coffin
Features
Sponsored: South-eastern Sweden offers Öland beaches and more
Gallery
Swedish underwear shop puts staff in front of the camera
Gallery
IN PICTURES: The Local's Property of the Week - Täby
Sponsored: India+Sweden Week - India Unlimited
Features
Sponsored: India+Sweden Week - A film, food, and finance feast
National
University applications rocket to record high
finest.se
Gallery
People-watching April 18-20
TT
Society
Kids in Victorian garb mark Swedish Easter
Shutterstock
National
Swedish MP ordered chemtrail probe
Society
Swedish supermarket Ica pulls contested Easter commercial off air
Kungahuset
Society
Swedish royals set baptism date for princess
finest.se
Gallery
People-watching April 16
Advertisement:
Politics
Who's the prime minister's heir?
Alfie Atkins
Society
Are children's books the key to families integrating in Sweden?
National
'Sweden Dem protests cater to party's martyr image'
National
'Swedish research grants were fantastic, but now it's like Australia'
Society
Only in Sweden: The ten problems you'd never encounter elsewhere
National
Swedes stopped to take my picture, but didn't look me in the eyes
Business & Money
A swipe of the hand replaced cash and cards in Lund
YouTube
Features
Video: Oliver Gee finds out how to embrace The Swedish Hug
TT
National
Abba duo hints at reunion
Private
National
Flash mobs hug it out across Sweden
Finest.se
Gallery
People-watching April 11-13
Stockholm School of Economics
Sponsored Article
Why a bachelor's degree is no longer enough
Latest news from The Local in Switzerland

More news from Switzerland at thelocal.ch

Latest news from The Local in Germany

More news from Germany at thelocal.de

Latest news from The Local in Spain

More news from Spain at thelocal.es

Latest news from The Local in France

More news from France at thelocal.fr

Latest news from The Local in Italy

More news from Italy at thelocal.it

Latest news from The Local in Norway

More news from Norway at thelocal.no

Blog Update: The Diplomatic Dispatch

28 October 15:16

The Green Growth Group Summit »

"Today on the 28 October in Brussels, a large group of key EU Ministers and business people, including UK Secretary of State for Energy and Climate Change Edward Davey, and Swedish Environment Minister Lena Ek, will meet to discuss green growth. They all have a stake in resolving a challenge which, although it is crucial..." READ »

718
jobs available
Swedish Down Town Consulting & Productions
Swedish Down Town Consulting & Productions is an innovative business company which provides valuable assistance with the Swedish Authorities, Swedish language practice and general communications. Call 073-100 47 81 or visit:
www.swedishdowntown.com