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1. Sweden -- Of all the companies moving closer to becoming cashless, most people agree that Sweden is the closest. 85% of the country has access to online banking and only 2% of the country’s transactions consist of cash.
There are a number of reasons for this cashless trend. Sweden has access to a popular payment app called Swish, which more than 50% of the country uses. But the biggest catalyst by far is that most Swedish retailers don’t access cash payments.
It’s not uncommon to see stores announcing that they don’t accept cash payments. In fact, in Sweden, only 20% of all in-store transactions are made in cash.
2. China -- China also has a vast cashless market, which is mostly dominated by Tencent’s WeChat Pay or Alipay, which is owned by Alibaba. But unlike many other countries, China hasn’t embraced credit card payments. Instead, most Chinese consumers make payments by scanning QR codes on their phones.
Most merchants request payment via QR codes and it’s not uncommon to see QR codes located all throughout China. And this trend is starting to spread to other countries that have a lot of Chinese travelers.
3. United Kingdom -- In the U.K., credit cards, online payments, and contactless payments have largely replaced cash payments. Cash is no longer accepted on public transport in the U.K. and the number of available ATMs is dwindling.
Additionally, the U.K. is currently leading the world in the adoption of contactless payments. Nearly half of all in-store transactions are contactless payments. Mastercard found that there has been a 97% increase in contactless payments across all of Europe.
corecashless.com...
originally posted by: JinMI
a reply to: Annee
From 2019?
Anything a little more current or where exactly the US falls on that list?
originally posted by: olaru12
Bitcoin and the "square" will be the future. God forbid the www. ever goes down or cloud access.
fitsmallbusiness.com...
It's a brave new world....all controlled by that small commutation device in your pocket or purse. QR code [quick response] is here to stay.
Bar codes are old school.
My small LLC is now being strongly pushed to use the "square" by my bank/credit union.
Bitcoin ............ will be the future. God forbid the www. ever goes down or cloud access.
originally posted by: Joneselius
Ah good old Annee avoiding the issue altogether.
We know about the rise in cashless payments. What the OP is referring to is the unprecedented rise in cashless 'only' venues and the governments increasingly warming uo to this narrative.
Are you, as usual, just making this out to be a mundane nothing-burger to detract? Really?
Because you know, of course that, once this is implemented every pretence of freedom is gone, all of it.
reply to: Annee
originally posted by: Annee
originally posted by: olaru12
Bitcoin and the "square" will be the future. God forbid the www. ever goes down or cloud access.
fitsmallbusiness.com...
It's a brave new world....all controlled by that small commutation device in your pocket or purse. QR code [quick response] is here to stay.
Bar codes are old school.
My small LLC is now being strongly pushed to use the "square" by my bank/credit union.
Interesting.
I've been watching the trend to cashless -- but Bitcoin (and others) seemed too unstable.
"square" -- first time I've heard of that.