Sweden Becomes the World’s First Cashless Society

Sweden Becomes the World’s First Cashless Society

Daily Current Affairs / Sweden Becomes the World’s First Cashless Society

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Category : International Published on: November 07 2025

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Sweden has officially become the world’s first fully cashless society in 2025, with almost all transactions now carried out through digital means such as mobile apps, debit/credit cards and phone-based payments. The mobile payment app Swish, launched in 2012, revolutionized real-time money transfers, making digital transactions effortless. Most Swedes now use platforms like Swish, Klarna and BankID, while cafes, stores and even churches no longer accept cash. To ensure financial stability, the central bank Riksbank has launched a pilot program for its digital currency, e-krona. Though rural areas still use limited cash, Sweden’s shift marks a milestone in global digital transformation and sets a benchmark for future financial systems.

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