Published 26 November 2021 at 14.00
Economics. Why pay with cash when, with just half an hour's work, you can install and replenish a “pay app” at every company where you are a customer? A new survey from the payment app industry shows that Swedes now prefer payment apps before cash “in all situations”, reports TT.
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The figures come from the survey Sweden pays 2021 from Insight intelligence together with Coop, Trivec, Walley and Loomis pay.
According to the survey, however, it is not the company-specific apps but the national payment app Swish which is most popular as 95 percent of those surveyed use it. Credit cards from Visa and Mastercard are used by 52 and 81 percent of Swedes, respectively.
Lukas O Berg, CEO of Insight intelligence, also states that many older people find it difficult to use the technology.
– It is okay if not everyone can use social media because it's not something everyone needs. But when it comes to something as basic as payment services, it becomes a democracy problem, he tells TT.
The battle for cash
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- SEB's internet bank and Swish are down for the second day in a row
- New law forces banks to build ATMs throughout Sweden
- Västtrafik replaced cash with app – which is down
- Poland bans cashless
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