Payments Report 2022

Payments in stores are rarely made in cash

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Older people use cash to a lesser extent than before

Published: 15 December 2022

Older people use cash more often than young people, but the difference between younger and older people declined during the pandemic. This is mainly due to the fact that fewer people in the oldest age group use cash; see Figure 9. One possible explanation is that older people became accustomed to digital payments during the pandemic and started using Swish to a greater extent than before. The reason could be that many elderly people stayed at home more often and instead repaid family and friends who helped them with various purchases by transferring money via Swish. The fact that the pandemic gave digitalisation an extra boost is also a global trend.

Figure 9. Older people pay less in cash than before

Percentage of people in respective age group who paid cash for their most recent purchase in a shop.

Figure: Older people pay less in cash than before

The figure shows that older people use cash more often than younger people. However, between 2020 and 2022, there has been a decrease in cash use for the 65-84 age group.

Download the data from the diagram by clicking on the arrow to the right, above the diagram.

Source: The Riksbank.