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Cash is disappearing faster in Sweden than in other countries
29/10/2020 -Change in the nominal cash volume_ny More and more people in Sweden are abandoning cash (see Cash is losing ground) and the volume of cash in circulation has fallen heavily over the last ten years. Compared with other countries, developments in...
Other problems can also arise
29/10/2020 -When fewer people use cash, other problems also arise. For example, the number of counterfeit banknotes has increased. These are often of low quality but, when fewer people are using cash, fewer people also have knowledge of what a genuine...
2. Swedish payments are secure and efficient
29/10/2020 -Overall, payments in Sweden are secure, but the number of counterfeit banknotes has increased in 2020. Digitalisation has led to payments becoming more convenient and less costly, but this development is problematic for some groups in society.
Without cash, vulnerability to interruptions in the electricity network and Internet increases
29/10/2020 -As long as most people have cash in their wallets, there is a good back-up alternative in the event of technical problems with electricity or the Internet, for example. When fewer people have cash available, problems like this can have more...
Google Pay, Samsung Pay, Apple Pay and cryptocurrencies such as Bitcoin are also being used now
29/10/2020 -Swish is not the only mobile application used to make payments. 16 per cent of respondents state that they have access to another payment application such as Samsung Pay or Apple Pay. In addition, five per cent of the youngest age group have...
Why are people in Sweden no longer using cash?
29/10/2020 -Apart from Sweden, it is only in Norway that the amount of cash in circulation has fallen over the last ten years. For Sweden, this may be due to measures making cash less attractive being introduced at about the same time as Swish was emerging as...
Cash free – not problem-free
29/10/2020 -People in rural areas are finding it harder to cope without cash. This is also true of elderly people. In addition, many people experience occasional technical problems when paying in shops. Cashless – not problem-free...
Cash is losing ground
29/10/2020 -People in Sweden pay less and less often in cash. In ten years, the proportion paying with cash has fallen from around 40 per cent to less than 10 per cent. Cash is now mostly used for small payments and primarily by older people. Cash is losing...
Some competition problems on the payment market
29/10/2020 -Swedish banks have long cooperated to make efficiency gains. As early as 1925, the public-owned Postgirot was formed in response to the need for more efficient mediation of payments via cashless payments by giro transfer. In the 1950s, the banks...
The coronavirus pandemic is putting pressure on cash distribution
29/10/2020 -Developments on the payment market have been accelerated by the marked decrease in parts of the trade, tourism, entertainment and restaurant industries caused by the coronavirus pandemic. One clear sign of this is that both the number of ATM...