Sweden Set to Become the First Cashless Society

By Gana Alampalle on at

The Swedes are well known to be quite the technologically savvy nation, having awesome broadband speeds and one of the highest mobile phone usages in the world. But now the Scandinavian country, looks like it may be the first to scrap cash outright, in fact only 3 per cent of current transactions use it.

Want more evidence of this happening? Well, look no further than Danske bank in Sweden, which is set to eliminate the green stuff from next month. Admittedly, a cashless society may cause problems for the elderly, so I can't imagine it ever fully going out of circulation, but it's progress, right? [Al Jazeera]