Sweden First Cashless Country: Today, in the world of changing technology, online payment is making its place very fast. Many countries are also working to promote cashless payments. However, even today many people use cash. In many countries including India, many people still prefer to transact in cash.
However, we have achieved an important position in the matter of cashless payments across the world. Nevertheless, cash is still prevalent. According to a report published in TV 9 Bharatvarsha, the European country Sweden has achieved the target of 100 percent cashless payment. Sweden has become the first country to do so.
Sweden becomes the first 100% cashless country
Sweden, a European country, has become the world’s first 100 percent cashless country. That means Sweden has now become a completely cash free country. Even in shops in Sweden, boards are now visible on which it is written that cash is not accepted.
In this digital revolution of Sweden, the youth as well as the elders of the country have supported. It is believed that older people stay away from new technology and use cash for payment. Sweden has changed this concept. Today, the elderly in Sweden are using payment apps to make online payments and have become fans of this technological change.
How did Sweden accomplish this feat?
Sweden had started preparations long ago to become a completely cash free country. Mobile payment app Swish became the biggest force of this change. Which started in 2012. This app was jointly launched by the big banks of the country. Today 75 percent of the total population of the country uses this app. Which is a total of more than 80 lakhs.
Now cash transactions have almost ended in Sweden. While in 2010, about 40 percent of transactions were in cash, by 2023 this figure had come down to less than 1 percent. This figure has almost disappeared in 2025. That means Sweden has now become a country with almost completely digital transactions.
Also read: Gold price rising again or rate decreasing? Know the latest price of your city today on 12th November
