Norway to Be a Cashless Country

Norway to Be a Cashless Country

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Photo: Pixabay

Norway is about to be the world’s first cashless society, reports www.tnp.no.

Cash use among Norwegians makes only five percent of all payments and four percent of household spending. Only Sweden and the UK have lower proportion of cash use.

Norwegian federation for financial instituions, Finans Norge advocates cash handling costs society twice the electronic payment and no cash policy will reduce problems with robberies, financial crime and black money.

However, The Norwegian Data Protection Authority – Datatilsynet believes people should be able to make purchases without having to leave electronic tracks behind them.

– From a policy perspective, it is primarily a concern that you can not pay anything anonymously, says Bjørn Erik Thon from Datatilsynet to NRK.

Photo: Pixabay

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