Sweden is becoming the forerunner for a coming “Cashless Society” as the country has already transformed into a society where cash is no longer welcomed leaving consumers relying on mobile phone payments or plastic. The United States isn’t there yet, but there is an increasing number of restaurants and retailers that are now ditching the US Dollar.
Excerpt From CBS:
Some merchants such as SweetGreen, a salad chain, refuse to open their registers for cash, telling customers they can pay only with mobile payments or cards. With some newer vending machines, only a card or mobile wallet will get that cold Coca-Cola to roll down the chute. “What we’ve seen is a push toward electric payments because of convenience, especially for Generations X and Y and onward,” said Greg Burch, vice president of strategic initiatives as Ingenico Group, which makes payment systems for merchants. “The phone has become more personal than the wallet has.”