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“STOCKHOLM - Sweden was the first European country to introduce bank notes in 1661. Now it's come farther than most on the path toward getting rid of them.
"I can't see why we should be printing bank notes at all anymore," says Bjoern Ulvaeus, former member of 1970's pop group ABBA, and a vocal proponent for a world without cash.
The contours of such a society are starting to take shape in this high-tech nation, frustrating those who prefer coins and bills over digital money.
In most Swedish cities, public buses don't accept cash; tickets are prepaid or purchased with a cellphone te
The flip side is the risk of cybercrimes. According to the Swedish National Council for Crime Prevention the number of computerized fraud cases, including skimming, surged to nearly 20,000 in 2011 from 3,304 in 2000.
Originally posted by LightSpeedDriver
reply to post by CB6699
Eek! A cashless society, hell no! Then again, Sweden has one of the highest rates of income tax in the world but still, major government control. Down with Sweden and it's Stockholm Syndrome.
edit on 17/3/12 by LightSpeedDriver because: Typo
Originally posted by CB6699
I never heard of this to come into effect in Canada anytime soon.
As for Sweden, according to the article, it states that “Bills and coins represent only 3 per cent of Sweden's economy”.
And according to ABBA’s Bjoern: “ Three per cent is still too much”.
Personally, I don’t like this scenario. I rather pay in cash, since I have the option this way to keep my transaction fees down.
I can just envision, little kiddies equipped with banking cards , just to go and buy an ice cream or a pack of gum. Price of gum, 85 cents, transaction fee, $1.50.
It seems to be turning into reality now, at least in Sweden.
But once one country is putting this into effect, other countries are soon to follow.
And yes, I just have found another article about this from 2010, so now I’m asking myself if this story is just being warmed up, or are we actually now a step closer to being a cashless society, sort of, a heads up warning?
iZettle meets all the requirements of the card payment industry. We are EMV approved and comply with PCI-DSS regulations. No sensitive data is ever stored on the mobile device, and all data traffic is encrypted.
Originally posted by LightSpeedDriver
reply to post by Raud
I can understand them wanting to stop busdrivers and suchlike from being robbed but like so many government actions they are not curing the problem but only treating the symptom. Not to mention using (what I assume is still) a well-known and loved star to sway public opinion in favour of their proposed solution. Ugh, and a vicar too.
Originally posted by TKDRL
reply to post by aboveGoos
Is it free, or do they charge a fee?
We should not have to pay a fee to a third party just to make a private transaction. It's another one of those hidden bank taxes, making money per transaction.edit on Sun, 18 Mar 2012 11:16:56 -0500 by TKDRL because: (no reason given)
There are no hidden fees, monthly contracts or lengthy sign-up processes with iZettle. The iZettle chip-card reader and app are free and we only charge per transaction. The price per transaction varies between countries but is approximately €0.15 + 2.75% of the transaction amount.
Originally posted by lifeissacred
This is happening everywhere. Simply as a matter of convenience and efficiency it makes sense that technologically advanced nations are slowly emerging into a more technology-dominated culture, this involves things ranging from social networking to a decrease in the use of coins/notes as currency. It's a sign of progress.