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Monday, March 19, 2012

In Sweden, Cash Is King No More










Sweden was the first European country to introduce bank notes in 1661.
In most Swedish cities now, public buses don't accept cash; tickets are prepaid or purchased with a cell phone text message. A small but growing number of businesses only take cards, and some bank offices – which make money on electronic transactions – have stopped handling cash altogether .
The decline of cash is noticeable even in houses of worship, like the Carl Gustaf Church in Karlshamn, southern Sweden, where Vicar Johan Tyrberg recently installed a card reader to make it easier for worshippers to make offerings.
Less cash in circulation makes things safer, both for the staff that handle cash, but also of course for the public.

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