Mobile payments accelerate decline in Swedish cash use

swedish-krona1

In Sweden, the use of cash as a means of payment again declined sharply in 2018, pushed largely by a swift rise in mobile payments.  

The Sveriges Riksbank annual payments report, published today (November 7) says that last year, cash accounted for 6% of total payments in the Scandinavian economy.

Falling demand is reflected in the very low level of cash value in circulation as a share of GDP. In 2018, cash in circulation was just 1% of GDP, and in Norway 2%. In stark contrast, in the eurozone

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