Sweden give up the paper and coin final after 10 years

Monday December 21 2015

Central Bank data Swede showed a continuous decline in the amount of securities and coins in circulation between 2009 and 2014, which fell from 11.3 billion euros to 8.5 billion euros, making economists Swedes talk about the trend towards abandoning securities and coins once, and only handle mail, depending on the location Kombis Swedish.

The website quoted Professor Swedish Royal Institute of Technology in Stockholm, Niclas Arvidsson, that paper money and coins money, in Sweden "will become the last in the country in a matter of 10 years at the latest."

The situation and pointed out that the widespread use of bank credit cards, payment and other appropriate alternatives, makes specialists waiting "stop the Swedes in the next ten years for the use of banknotes in commercial transactions", to be the first European country to turn into a fully digital cash transactions, after it was the first country to officially adopt the securities and cash in the financial world in 1666.

She noted many studies in Sweden over the past two years, rising use of electronic payments and payment cards and mobile phone at the expense of traditional financial aid, in light of the increasing number of Swedish shops that refuse to accept paper money in transactions.