Sweden Rethinks Its Cashless Society as Russian Threat Looms
Why Sweden is abandoning its cashless society
Sweden was predicted to become fully cashless by 2030, but Russia's invasion of Ukraine prompted the Riksbank to urge citizens to keep 1,000 kronor in cash and require essential shops to accept physical money. Only 5% of Swedes used cash for their last in-store purchase in 2025, yet nearly half now view the decline of cash negatively. The central bank governor says the threat of Russian hybrid attacks makes cash vital for resilience.
The cashier said: 'We can't take any cards because the system has broken down, but we could accept cash.' I was the only one standing in the line after that message. But I actually had cash. I could pay for my food and go home.
- jmkd
A shame that this took the threat of war to be taken seriously, rather than the reality of disenfranchisement faced by the elderly, immigrants, the homeless and the unbanked for whom cash remains a lifeline.
It is of great convenience to governments that digital payments require registered accounts on easily-tracked systems.
Just let people buy vegetables without becoming a cell in a Borgesian spreadsheet.
- wood_spirit
Sweden still feels very cashless in practice. My barber went back from swish to cash because of the charges for businesses but that is the only non-swish/non-card shopping I do these days and my haircut is literally the only thing I’ve paid cash for since well before covid. Even market stalls etc take swish. I never carry cash on me normally. It has made life much better. There is a small number - less in real life than on the comments on the internet to be honest - people lamenting the decline of cash but the vast vast majority completely don’t miss cash.
- countWSS
Any "central payment system"(like e.g. obsession with Paypal)
is a single-point-of-failure vulnerability. Cash is decentralized
and independent of any technology failing.
people find this the hard way during electric blackouts,
that credit cards are useless without electricity, but somehow
still think "electronic payment" is worth completely switching over.
- Aldipower
In Germany we like to mimic things from other western countries a lot. Especially the nordics (including Sweden) and the US. Problem, we do this with a delay of 5-10 years. Right now we are in the transformation process of becoming cashless.. Like our role model Sweden. Hmm, something feels wrong.. :-)
- roody15
Recently separated and cash still has lots of practical uses and is needed.
- yxhuvud
Stupid headline, we are still on the path towards it.
- ethor
Imagine becoming a dissident in a totalitarian society where you can be cut off from all commercial transactions with the click of a button (i.e. cash has a broader purpose).
- lifestyleguru
How have we even arrived to a point where all payments go through Visa/Mastercard duopoly and to pay people hectically unlock, reconnect, and reinstall stuff on their smartphones?