When Swedes opt out of cash, mobile payments become a clear favourite. The Riksbank has seen how more and more people are using financial technology.

The cashless society has soon become a reality

According to the Riksbank, Swedes have increasingly come to choose electronic payment channels. This is evident from the annual survey regarding the Swedish people's payment habits. If you look at the numbers, some very clear trends emerge. The use of cash is steadily decreasing, while the use of bank cards remains high. You can start play in popular Swedish casinos, which you find at https://casinoslotslab.com/.

This is certainly not particularly strange given Sweden's ambition to eventually become a cashless society. What is perhaps a bit more unexpected, however, is that internet-based payment solutions, or so-called alternative payment methods, will soon be as popular as cash. Thus, these hookup services have become hugely popular in a short time.

Homeland of fintech services

That Sweden would become a breeding ground for financial technology, also called fintech, was quite unexpected for many. But thanks to the Swedes' positive attitude towards cashless services, and the uniquely high level of technical competence in our elongated country, it seems that the right conditions were simply present. Combine this with an encouraging banking world in connection with a benevolent state and it is perhaps not so strange that we are now seeing an enormous growth of Swedish and secure e-services for payment.

More and more industries are opting out of cash handling

Perhaps as part of the national drive towards cashlessness, more and more industries have chosen to exclusively offer electronic payment services. Services such as Swish and iZettle have become standard in many places. For actors who primarily conduct internet-based activities, such as online stores, casino operators and streaming services, this is of course a natural development. But also more traditional industries, such as markets, fairs and the like, have started to offer payment via these new services.

Popular online casinos have interestingly come to represent a cross-section of popular options, and here you can see in this regard commonly used payment methods. Please note that many of these payment services are all-Swedish companies that have become a kind of ambassadors for financial technology.

This exciting development seems to have gone hand in hand with the internet becoming part of everyday life. Thanks to a widespread mobile network and affordable subscriptions, most people now have a data subscription that makes it natural to pay on the mobile phone. Modern technology has also ensured that these payment services are very secure, completely removing the common risks associated with cash handling. Maybe Sweden really will become the first completely cashless society.