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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 week ago by 0x815@feddit.org to c/technology@lemmy.world

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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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[–] NIB@lemmy.world 19 points 1 week ago* (last edited 1 week ago) (12 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.

[–] lazynooblet@lazysoci.al 13 points 1 week ago (4 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.

[–] Geobloke@lemm.ee 1 points 1 week ago (1 children)

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

[–] NIB@lemmy.world 5 points 1 week ago

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

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

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