Denmark to make cash payments obsolete

[europa arise]

Denmark is set to become the first country in the world to make cash payments obsolete

May 08, 2015


Innovation ... In Australia, mobile pay technology exists, but has yet to become mainstream. Picture: Supplied Source: Getty Images

DENMARK is on track to become the world’s first cashless nation, with its government pushing to free some stores, restaurants and petrol stations from accepting cash payments.

The proposal to scrap cash transactions is part of a package of cost-saving measures being introduced ahead of the Danish election in September, the Independent reports.


It is understood the government is hoping to get rid of the option to pay by cash by as early as 2016.
Nearly a third of all Danish citizen prefer to use Danske Bank’s official app, MobilePay, to pay for services and transactions, and it is expected that the proposal will be met with little opposition.


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[Origanalist]

Denmark is set to become the first country in the world to make cash payments obsolete

May 08, 2015


Innovation ... In Australia, mobile pay technology exists, but has yet to become mainstream. Picture: Supplied Source: Getty Images

DENMARK is on track to become the world’s first cashless nation, with its government pushing to free some stores, restaurants and petrol stations from accepting cash payments.

The proposal to scrap cash transactions is part of a package of cost-saving measures being introduced ahead of the Danish election in September, the Independent reports.


It is understood the government is hoping to get rid of the option to pay by cash by as early as 2016.
Nearly a third of all Danish citizen prefer to use Danske Bank’s official app, MobilePay, to pay for services and transactions, and it is expected that the proposal will be met with little opposition.


READ MORE:

There is a worldwide war on cash, this isn't limited to Denmark. The powers that be are trying to make "unauthorized" transactions impossible. (good luck with that...)

[luctor-et-emergo]

Gold and Silver coins..

Oh... you don't take cash, too bad.

[ClydeCoulter]

Screw that!

Barter here we come.

[DevilsAdvocate]

And in the future, every single transaction will be recorded in a centralized database. Along with metadata from your phone, and location data from your self driving car.

[oyarde]

Screw that!

Barter here we come.

To get ready , I have been doing it for some time .

[cindy25]

won't this just speed the use of silver and gold?

[The Northbreather]

[cindy25]

it will be interesting to see what really replaces it. I can imagine babysitters initially being paid in canned food (or doubling their rate to account for Danish taxes). drug dealers using bitcoin. but at some point silver, gold, possibly euros or dollars, will have to enter into it. in other cashless societies (prisons for example) or where the currency collapsed something has always replaced it.