"When they would close up for the night, they'd have to count the money, pack it, move it, and that's dangerous. "The main reason was the safety of our employees," he explained at his shop in the trendy Södermalm district. Since 2013, the ABBA museum in Stockholm has been completely "cashless."ĭavid Zetterström, the owner of a bakery chain with 16 shops in the city, took the same step a year ago. One of the first to take this step, legal in Sweden, was ABBA singer Björn Ulvaeus, after his son had been repeatedly robbed. Many businesses in Stockholm simple no longer accept cash. In 1661, Sweden became the first European country to print banknotes. These payment systems have also been adopted in markets, by middle-school students selling raffle tickets and even by homeless people panhandling on the streets. In church, rather than passing a basket around, congregants donate money using Swish or iZettle, a mini-card reader that connects to a mobile phone. Here in the Swedish capital, a city of some one million inhabitants, it is mpossible to pay for public transportation with cash, and forget about checks, an ancient relic abandoned 20 years ago. "It's a unique development internationally," according to the bank. According to a study by the country's central bank, two-thirds of Swedes now feel they could live without cash. In terms of total value of purchases, the percentage has tumbled to 1.4%. In Sweden, the rate of cash payments in stores fell from 40% in 2010 to a stunning 15% in 2016. This is my sixth year without any cash in my pocket," he says. "I use my card for everything, regardless of the amount. Same kind of calculation goes for Victor, a 23-year-old wine salesman. "If someone else pays the bill, I pay him back with the Swish app on my phone."
STOCKHOLM - When Victor goes out to lunch with friends in Stockholm, he no longer needs to worry about carrying enough cash.
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