Swedish state needs to face dangers of falling cash use, Riksbank says

Sweden’s central bank called on the country’s government and parliament to urgently look at the state’s role in payment markets, in a document released today (October 3).

The Sveriges Riksbank statement argues that rapid technological change and lower cash usage may weaken the public sector’s role in the country’s payment system. This could cause reduced competition among payments providers, less reliable technological systems, higher social exclusion and diminished trust in central bank money