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MNI BRIEF: As Cash Payments Decline, Riksbank Eyes e-Krona

LONDON (MNI)

Cash usage is at the lowest level ever in Sweden, the Riksbank said Thursday, with less than 10% of all payments maid in the traditional way. Card or app has become by far the most popular way of paying, a trend that increased during the coronavirus pandemic.

To prepare for a future in which fewer and fewer people pay in cash, the Riksbank says is "investigating the possibility" of issuing digital cash – the so-called e-krona. It is also important that those who want to use cash should be able to continue to do so. These are the conclusions in the latest report, "Payments in Sweden 2020".

Digital central bank currencies are becoming a subject of greater interest in recent months and were the subject of an October BIS report.

MNI London Bureau | +44 203-865-3812 | les.commons@marketnews.com
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MNI London Bureau | +44 203-865-3812 | les.commons@marketnews.com
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