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Sweden’s cashless society dream isn’t all it’s cracked up to be
Article

Sweden’s cashless society dream isn’t all it’s cracked up to be

Wired UK, 2020


Editorial Rating

8

Qualities

  • Eye Opening
  • Background

Recommendation

Sweden’s broad adoption of digital payments has its pluses and pitfalls, according to this insightful article by journalist Morgan Meaker. Though safer and often more cost effective, digital payments may not be ideal for all segments of society, Meaker finds, citing the challenges they present for low-income earners, the elderly and those in rural locales. Her reporting shows that policy makers need to consider the bigger picture when assessing the benefits and disadvantages of financial digitalization.

Take-Aways

  • An unusual crime spree accelerated Sweden’s move toward a cashless economy.
  • While the notion of digital payments appeals to many, it presents obstacles to some.
  • Swedish officials must consider the broader ramifications of a move to cashless payments.

About the Author

Morgan Meaker writes for Digital Society, a publishing alliance with Vontobel.


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