Lack of demand reducing cash use in Sweden – analysts
Riksbank paper says technological change is rapidly changing payment patterns in the country
New payments technology is rapidly reducing the demand for cash in Sweden, the country’s payment patterns survey 2018 shows.
The percentage of Swedes who say they have used cash over the previous month has declined to slightly over 60% in 2018, down from 83% in 2014, the survey finds. Meanwhile, users of digital and immediate person-to-person and person-to-business payments provider Swish has expanded to more than 62% from below 10% in the same period.
This transformation will make the payment
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