The Swedish bank association, Bankföreningen, is investigating the use of intelligent cash cards that don’t permit using actual cash, but a new study shows that Swedes would still rather have the option to use cash. It has become increasingly difficult to purchase things with cash, there are fewer cash machines around and merchants dealing with a lot of cash have had to accept higher fees at the banks.
In the study, Forex Bank, a member of Bankföreningen, asked 1800 people between the ages of 18 and 64 about their banking habits. The results show that 79 percent still feel the bank should provide cash. The study also revealed that Swedes feel the development toward a cashless system is going too fast, potentially creating a gap in the economy that presents risks for everyone. But Leif Trogen, director of Svenska Bankföreningen, doesn’t feel Swedes need to worry, since payment by card is increasing, especially with online shopping. And though 80 percent of all transactions are done with a card today, Trogen says it’s completely incorrect to suggest that Sweden will become a cashless society any time soon. Cash continues to be strong in the economy, and Riksbanken is even introducing new notes next year.