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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

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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.
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