A voice for newcomers in Sweden

Sweden leads the world in cashless payments

A customer prepares to pay using his smartphone at a Swedish food shop. Photo: Anders Wiklund / TT

Published: 16.Oct.2018 07:47 hrs

For the first time, Swedes have overtaken Americans when it comes to the amount of cashless payments carried out, a new report shows.

Cash payments are decreasing in number across the world, with Sweden leading the way in the march towards a near-cashless society.

During 2016, people in Sweden made an average of 461.5 digital transactions, which corresponds to a 13 percent increase in just one year, according to the annual World Payments Report. In the USA, the number of non-cash payments increased by just 5.2 percent under the same period, to reach 459.6.

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