Cashless society still far away for most European markets

Cashless society still far away for most European markets — GlobalData — “The closest market to the cashless ideal is Norway, where cash accounted for only 7% of all transactions in 2016 (down from 11% in 2011). The Scandinavian markets generally are the least reliant on cash in the region, with cash accounting for 18% of all transactions in Sweden in 2016, and 26% in Denmark… The most cash-dependent market in Europe is Italy, where cash accounted for 82% of all transactions in the market in 2016 (down from 88% in 2011).”

  • No new form of payments in the history of the world has ever completely eliminated those that have gone before. Instead what happens is that they encourage more commmerce.

  • elevtechlift

    If a cashless society were to ever exist and happen, it would have to work with people of all groups (regardless of citizenship, age, smartphone possession, etc.) yet also convenient (fast, reliable, consistent, can be used everywhere in all payment applications, etc.).