Fewer than 10% of people in Norway use cash — and a senior official thinks it could disappear completely in a decade

Reuters

• The deputy governor of the Norwegian central bank believes that the country is effectively cashless.
• Use of physical money is incredibly rare in the Scandinavian nation, with fewer than 10% of transactions including cash.
• Cashlessness is on the rise globally, with almost 40% of Brits saying they can see themselves ditching the use of cash altogether in the future.

LONDON — Norway has effectively become the world’s first cashless society, according to one of the country’s most senior economic policymakers.

Speaking during the City Week conference at London’s Guildhall, Jon Nicolaisen, the deputy governor of Norway’s central bank, argued that the level of transactions using cash in the Scandinavian country is now so low that it can be considered cashless.

See the rest of the story at Business Insider

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