Cashless Society -- Do We Really Need Cash? Jeff Berwick on Al Jazeera

As many countries head towards a cashless future, some warn the poor will be left behind.





In this digital age is cash necessary anymore? Depends who you ask. Sweden certainly doesn’t think so and hopes to go completely cashless by 2030. But the trend to ditch paper money isn’t exclusive to Sweden, or to Europe for that matter. Singapore, Canada, Australia and the United States are among the top 10 cashless countries according to credit card company, MasterCard. Banks and credit card companies are among those pushing to go paperless. Visa, world's largest payments network operator, has announced it will give restaurants in the US $10,000 to go completely cash free. Back in Sweden, 900 of the country's 1,600 banks don’t accept cash – meaning you can’t even withdraw or deposit it.


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