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Sweden proves that the success of cashless payments carries risks





There are a variety of concerns with Sweden’s rapid evolution away from hard currency, some admittedly more serious than others. Among the less passionate complaints among consumers is the fact that cash has been a little hard to come by on the off chance it is actually needed.
“On the rare occasions, perhaps once or twice a month, when I want 200 kronor, it can be hard to get hold of. The ATM nearest my house recently shut down: Bankomat, the cash machine company co-owned by the banks, has reduced the number of outlets by a fifth in four years,” once consumer noted.
And if you are thinking Swedes can just go to a bank branch instead of an ATM — not so much.  According to reports the majority of local bank branches have stopped letting people take out cash or even bring cash into the bank.
There are others, however, who think something far more serious and sinister is going on with cashless than merely inconvenience. Kontantupproret  (Cash Rebellion) has been passionately advocating against cashless Sweden for the last six years, under the leadership of colorful character and former police chief named Björn Eriksson. The group’s argument? Cashless is a conspiracy of Sweden’s banks to infringe upon democracy, privacy and individual freedom. The accusations are serious, and group members are quite serious about them, though they are not taken terribly seriously by outsiders.

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The cashless society from an ethical point of view

The debate about the move towards a cashless society has been at the center of the scene for several years, now. Various angles have been taken by economists, politicians, banking institutions and sociologists. Beyond the technicalities of the debate, lies the question of freedom, of inter-citizen solidarity and of governmental responsibility. The debate cannot remain in the hands of financial specialists, it is first and foremost an ethical, political and societal issue.

The cashless society from an ethical point of view









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