Denmark prepares the goodbye of cash

Denmark prepares the goodbye of cash

Image result for cashless transaction denmark

From January 2016, many Danish shops will be able to sell to the customer in cash.

The Danish Central Bank will no longer produce bills or coins

Denmark prepares the goodbye of cashCustomers of a Danish supermarket pay for their purchases by card, through machines

  • denmark
  • Corruption
  • finland
  • iceland
  • norway

Denmark is preparing to take a decisive step towards the elimination of cash. The Government Announced a few days ago Specifically, from January 2016, clothing stores, gas stations and restaurants

In the moment, supermarkets and post offices, among others, will be excluded, and they should continue with the payment with physical money. In addition, before entering into force, the new norm. A procedure, however, that should not find special obstacles given the high popularity of electronic payment in Denmark.

According to last year, only 25% of purchases made in this country are made in cash, which is added to the use of mobile phones.

Almost a third of the population in recent years. A mechanism that shortens and simplifies the purchase process to the extreme. The trend is such that the Central Bank of the country has stopped producing notes and coins. From the end of 2016, they will take on much smaller amounts subcontracted companies. Thus, the body plans to save about 100 million crowns (about 13.4 million euros) until 2020.

Greater economic efficiency is the main argument for the future of the September elections. The gradual elimination of cash is seen as an effective way to reduce costs and increase productivity. Its defenders also emphasizes that it is a way to avoid unwanted thefts and reduce the possibility of tax evasion and corruption.

In Northern Europe, Denmark is no exception. Sweden, Norway, Finland and Iceland are moving to the elimination of cash. In all of them, they are accustomed to paying by smallest and cheapest items, such as chewing gum or snacks. Some bank branches, even, have stopped distributing tickets. In cities such as Copenhagen or Stockholm, for example, the machines to buy metro or bus cards do not accept metal either.

As the disappearance of physical money could be the most disadvantaged groups, as people without resources and indigent. On the other hand, hackers and computer security risks are other threats.