My Way News - In Sweden, cash is king no more
My Way News reports: "Bills and coins represent only 3 percent of Sweden's economy, compared to an average of 9 percent in the eurozone and 7 percent in the U.S., according to the Bank for International Settlements, an umbrella organization for the world's central banks [...] Internet startups in Sweden and elsewhere are now hard at work developing payment and banking services for smartphones [...] Most experts don't expect cash to disappear anytime soon, but that its proportion of the economy will continue to decline as such payment options become available."