Sputnik

Sweden already leads the world in using noncash methods of payment and, according to a new study, could well become the world’s first cashless society in just five years from now.

Last year, only a meager 1 percent of the value of all payments was made using coins or notes in Sweden. The smooth transition toward a totally cashless society could be completed already in 2023, when shops are likely to stop accepting cash altogether, a study from the Royal Institute of Technology (KTH) and the Copenhagen School of Economics suggested.
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