By NyishaHv
2 years ago

Sweden on its way to becoming a cashless society

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Europes looking to pass some legislation this summer that gives shops and restaurants the right to refuse cash, and people are saying that they may be the first country to go digital in the money department.

However Sweden is way ahead of the game, in my opinion. Even their online banking is amazing for paying digitally.

SwedBank has an amazing system for purchasing items online. You basically generate a credit card with as much limit as you want on it. So if you are purchasing items for $48, you can create a card for $48 that expires in 3 months. This way, if someone steals your information, the card will already have reached the limit. Genius!

What do you think? Will Sweden be the first cashless country? Is that a good thing or does that terrify you?

https://www.google.co.uk/amp/s/amp.theguardian.com/business/2016/jun/04/sweden-cashless-society-cards-phone-apps-leading-europe
2 years
LiaF7 Portugal has the same thing. Not at all an innovation. We call it MBNet. We also have MB Way for phones.
2 years
2 years
LiaF7 By the way we've had MBNet for years and years ( I think I started using it by 2005) ... and it's ending this July. Don't know what is going to be the substitute.
2 years
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Smokey2017 Why would anyone want to put card details into a machine
Especially tourists.
Here if anythng goes wrong we call the bank straight away
Imagine been abroad and having probs im a cash person personally and when my cash runs out that it
2 years
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Maydelene As i heard Rich or Class A people always bring money and pay cash.. Class B level of people always bring credit Card..
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ze2000 To be honest I hardly pay in cash. I pay everything with debit card so I have proofs available always.
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Smokey2017 Cash is the best when it runs out
Tough luck no more spending
Especially abroad
2 years
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LiaF7 Credit cards are great for people that have controle on themselves or else they get bankrupt. Never had problems with them. Pay most of my stuff with debit card. Online shopping with credit card or paypal. Use cash for day to day shopping and very small amounts like a cup of coffee and a cake.
2 years
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Borderline To be honest I would never go to Sweden, is like Afghanistan
2 years