Cash is King, Except in Sweden

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    Got
    cash? Not necessary in Sweden, who has gone (mostly) cashless:

    Sweden was the first European country to introduce bank notes in
    1661. Now it’s come farther than most on the path toward getting rid
    of them. […]

    In most Swedish cities, public buses don’t accept cash; tickets
    are prepaid or purchased with a cell phone text message. A small but
    growing number of businesses only take cards, and some bank offices
    — which make money on electronic transactions — have stopped
    handling cash altogether.

    “There are towns where it isn’t at all possible anymore to
    enter a bank and use cash,” complains Curt Persson, chairman of
    Sweden’s National Pensioners’ Organization.

    The upside? Crimes are down:

    The number of bank robberies in Sweden plunged from 110 in 2008
    to 16 in 2011 — the lowest level since it started keeping records
    30 years ago. It says robberies of security transports are also down.

    “Less cash in circulation makes things safer, both for the
    staff that handle cash, but also of course for the public,” says
    Par Karlsson, a security expert at the organization.

    Link
    – via GeekPress

    Continued here:
    Cash is King, Except in Sweden

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