Swedish central bank calls halt on moves to a cashless economy

Cashless society

While other central banks ruminate on ways to replace cash with digital currencies, Sweden’s Riksbank is kicking against the grain with calls fo

Source: www.finextra.com

Signed by Stefan Ingves, the Riksbank Governor, the letter states that the banks have reduced their cash handling services too fast, resulting in a lack of cash services in less populated areas in particular, but for the public in general.

Mike Lee, CEO of the ATMIA, says: “This is a victory for common sense and for the future balance of the Swedish consumer economy and I’d like to congratulate the Swedish Riksbank for seeing through the mirage of anti-cash propaganda in the media to reveal the basic economic right of free citizens to choose their own payment methods at all times, whether cash or digital.”