Building a Cashless Society The Swedish Route to the Future of Cash

This open access book tells the story of how Sweden is becoming a virtually cashless society. Its goal is to improve readers’ understanding of what is driving this transition, and of the factors that are fostering and hampering it. In doing so, the book c

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Niklas Arvidsson

Building a Cashless Society The Swedish Route to the Future of Cash Payments 123

SpringerBriefs in Economics

More information about this series at http://www.springer.com/series/8876

Niklas Arvidsson

Building a Cashless Society The Swedish Route to the Future of Cash Payments

Niklas Arvidsson Royal Institute of Technology Stockholm, Sweden

ISSN 2191-5504 ISSN 2191-5512 (electronic) SpringerBriefs in Economics ISBN 978-3-030-10688-1 ISBN 978-3-030-10689-8 (eBook) https://doi.org/10.1007/978-3-030-10689-8 Library of Congress Control Number: 2018966535 © The Editor(s) (if applicable) and The Author(s) 2019. This book is an open access publication. Open Access This book is licensed under the terms of the Creative Commons Attribution 4.0 International License (http://creativecommons.org/licenses/by/4.0/), which permits use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons licence and indicate if changes were made. The images or other third party material in this book are included in the book’s Creative Commons licence, unless indicated otherwise in a credit line to the material. If material is not included in the book’s Creative Commons licence and your intended use is not permitted by statutory regulation or exceeds the permitted use, you will need to obtain permission directly from the copyright holder. The use of general descriptive names, registered names, trademarks, service marks, etc. in this publication does not imply, even in the absence of a specific statement, that such names are exempt from the relevant protective laws and regulations and therefore free for general use. The publisher, the authors and the editors are safe to assume that the advice and information in this book are believed to be true and accurate at the date of publication. Neither the publisher nor the authors or the editors give a warranty, express or implied, with respect to the material contained herein or for any errors or omissions that may have been made. The publisher remains neutral with regard to jurisdictional claims in published maps and institutional affiliations. This Springer imprint is published by the registered company Springer Nature Switzerland AG The registered company address is: Gewerbestrasse 11, 6330 Cham, Switzerland

Preface

The last decade has shown a decrease in the use of cash in Sweden, and this is likely to continue in the coming years. The value of cash in circulation in Swedish crowns dropped 50% between the peak in 2007 and the low figures of 2018. If we turn our eyes to the future, it may be the case that Sweden is a cashless society in just a few years, perhaps already in 2023 AD. There are many reasons behind this development including regulation, innovation, technological advancements, trust in the banking system, demographics, lobbying and campaigns both by those wanting to reduce the uses of cash and by those who want to keep cash,