this post was submitted on 30 Oct 2024
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629
Sweden, Norway rethink plans for cashless societies over fears that fully digital payment systems would leave them vulnerable to Russian security threats (www.theguardian.com)
submitted 1 month ago by [email protected] to c/[email protected]
149 comments fedilink hide all child comments
 

cross-posted from: https://feddit.org/post/4262252

A combination of good high-speed internet coverage, high digital literacy rates, large rural populations and fast-growing fintech industries had put the Nordic neighbours on a fast track to a future without cash.

[...]

But Russia’s invasion of Ukraine in 2022 and a subsequent rise in cross-border hybrid warfare and cyber-attacks blamed on pro-Russia groups have prompted a rethink.

[...]

The Swedish government has since completely overhauled its defence and preparedness strategy, joining Nato, starting a new form of national service and reactivating its psychological defence agency to combat disinformation from Russia and other adversaries. Norway has tightened controls on its previously porous border with Russia.

[...]

[Norway's] justice and public security ministry said it “recommends everyone keep some cash on hand due to the vulnerabilities of digital payment solutions to cyber-attacks”. It said the government took preparedness seriously “given the increasing global instability with war, digital threats, and climate change. As a result, they’ve ensured that the right to pay with cash is strengthened”.

[...]

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[–] [email protected] 20 points 1 month ago* (last edited 1 month ago) (5 children)

Noone uses cash in Sweden, except for maybe drug dealers and super old people(and the occasional tourist). Most businesses dont even accept cash anymore.

It isnt just the convenience of not having to carry cash, it is also much safer. Much lower risk of getting robbed, for both individuals and businesses.

[–] [email protected] 12 points 1 month ago (2 children)

Cash is still used a lot. Especially for second hand small purchases. Not everyone wants to do the PayPal dance at a car boot.

[–] [email protected] 4 points 1 month ago (1 children)

Never once seen anyone use PayPal for that, Swish is the most common (in Sweden at least) and there are many alternatives which are just as easy.

[–] [email protected] 1 points 1 month ago

In Finland we use MobilePay for that. Rarely cash.

[–] [email protected] 1 points 1 month ago (1 children)

Do you guys have payID over there? Like you can just send money to a persons phone number

[–] [email protected] 4 points 1 month ago

Swish is very popular in Sweden and has no fees(for individuals)

https://en.wikipedia.org/wiki/Swish_(payment)

[–] [email protected] 7 points 1 month ago (1 children)

Much lower risk of getting robbed

Maybe that works in Sweden, but in other places you get shot if you're not carrying money with you 😅

[–] [email protected] 9 points 1 month ago (1 children)

I think those places need more support systems to reduce the number of people that becomes desperate enough to do that.

[–] [email protected] 2 points 1 month ago

We have plenty of support systems, but we have too much corruption. I think we're working on that now with our first female prez.

[–] [email protected] 5 points 1 month ago* (last edited 1 month ago)

Until you forget changing 6 digit pin of your credit card before you travel to the country which accepts 4 digit normally. You're f..d, the only way is to get call your family to make moneygram / western union transfer (or if you can do make such an order on your own). If you wonder which country I live, it's the same country which has one of the highest banknotes 1000 CHF.

[–] [email protected] 2 points 1 month ago

Support the drug dealers!