Sweden: The Vanishing Krona

  • Over the last few years, Sweden has seen a massive shift away from cash — instead embracing online payment apps and cards.
  • It is accepted that Sweden could become the world’s first cashless society. In 2015, only 11% of consumer transactions last year were in cash in Sweden.
  • Digital payments are transparent, making it easier for law enforcers to track illegal transactions. Tax evasion too has become a lot easier to check.