At the end of last year, the Riksbank presented the following proposals: introduces requirements for traders as a seller’s essential goods, such as food and medicine, can receive cash. For several years, the use of cash has gradually decreased in Sweden.
However, many highlight the socially beneficial function of cash. The Swedish Agency for Social Protection and Preparedness has emphasized the importance of cash in the event of war or crisis and the Riksbank itself has pointed out that not everyone in Sweden can or wants to rely on digital payment systems.
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The Riksbank’s proposal was sawn
However, the proposal from the Riksbank has not made many satisfied.
In a previous interview with News24 emphasized Bengt Nilervalla business policy expert on Swedish trade, that the state should back up the market in case a requirement for cash would be introduced.
– With fewer and fewer customers using cash, the market to manage cash is also getting less. It will be more expensive from year to year to handle cash as the Riksbank’s survey also shows. The cash is the most expensive payment means for the trade, he said.
Cash advocates are also far from satisfied with the Riksbank’s proposal.
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Want to see requirements for cash – everywhere
The Network Cash Uprising has started a name collection to ensure that cash remains a payment means in Sweden. And they not only want to see a requirement for grocery stores and pharmacies, but on all traders.
– All people must be included in society. Everyone needs to be able to buy clothes, go to a cafe, buy train tickets, go to the bathhouse and much more. Anything like that included in a normal life, says Björn Erikssonchairman of the cash uprising, to News24.
Björn Eriksson, chairman of the cash uprising. Photo: Niklas Agaton.
The cash uprising consists of organizations that work to preserve the cash in Sweden, including Sweden’s Consumers, PRO, SPF Seniors, SKPF Pensioners and Småfärnarnas Riksförbund.
The discussion about cash is not unique to Sweden. In Denmark, the national bank, corresponding to the Swedish Riksbank, proclaimed that the cash is about to be phased out as more and more rely entirely on digital payment systems.
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Cash Uprising: That’s why we need cash
Björn Eriksson sees cash as necessary. Digital payment options are not possible for everyone, he points out.
– For example, we have been told about a woman who lives hidden in a smaller town in Sweden. She is completely dependent on cash and has to spend an incredible amount of time and money on even being able to pay her bills, which she then has to pay in cash so as not to be traced by her violent ex, he says and continues:
– There are few places today that offer the opportunity to pay their bills in cash. In addition, there are great risks for our community preparedness if the cash cannot be used. If hackers knock out the payment systems, it will be chaos if there is no possibility to pay with cash.
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In their proposal, the cash uprising writes that they require “broad legislation that ensures that cash works in all parts of society”. The name collection will be submitted to Finance Minister Niklas Wykman.
– We believe that the name gathering should be able to be handed over in about a month, says Eriksson to News24.