Central Banking

Riksbank's Nyberg on the pros of card payments

Lars Nyberg, a deputy governor of the Riksbank, has urged Swedish consumers to pay for goods with cards rather than cash.

"When we consumers choose to pay in cash, which is more expensive for society to manage, we have to pay more in another way, as the mark-up on prices of goods and services increases," said Nyberg. "It is thus possible to save money for society and for us as consumers if we reduce the use of cash."

The deputy governor suggested a small charge for ATM withdrawals would encourage

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