Less than 10% of people in Norway use cash

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. "According to our latest numbers, we have less than 3% of broad money in cash," he said, adding that "less than 10% of the number of transactions, including buying coffees, are in cash." Money is now almost entirely transferred electronically, he continued, saying that 90% of transfers in the country are now done via some electronic means. "We have no wish to eliminate cash. It is the public itself that chooses other means of payment," he said. - Business Insider -



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