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Denmark Becomes First Country To Ban Cash

Denmark may become the first country in the world to ban cash.

The proposal to ban all cash transactions is being introduced ahead of the Danish election in September, in the hope that cash will be phased out as early as 2016.

Digital transactions are very popular in Denmark with a third of all Danish citizens  using the Danske Bank app, MobilePay, to pay for services and transactions. It’s unlikely that the new proposals to ban all cash transactions will be met with any opposition.

News.com.au reports:

Financial institution lobbyist Finansraadet said that going cashless would save retailers money on security, in addition to time when counting money at closing of business day.

The Danish Chamber of Commerce (Dansk Erhverv) also supported the move, saying it was time shops were given the option of going cash-free.

“Society has changed so much that there is no longer a need for requirements on cash payments,” spokesman Henrik Hytolft told broadcaster DR.

“Plus, cash has become tremendously expensive to handle due to security reasons.”

However, there are fears that with electronic transactions, the risk of fraud will also rise. Opponents ahve cited the case of Sweden — a country with the highest number of bank transactions per person in the European Union — where fraud has doubled in the past 10 years.

Last year, Juniper Research forecast that smartphone payments would hit 9.9 billion by 2018, with one in five phones acting as digital wallets.

The technology is already available in Australia, though banks, businesses and PayPal are paving the way individually, making it more difficult to understand.

MasterCard Australasia market development and innovation head Matt Barr said Australia led the world in tap-and-pay credit card transactions, paving the way for smartphone payment technology.

“With contactless technology, every second transaction in Australia is a tapper now,” Mr Barr told News Corp Australia.

Other digital pay options such as Google Wallet, Apple’s Passbook and England’s Paym are starting to become more commonplace, with experts predicting that Nordic nations could become cashless by 2030.

Sean Adl-Tabatabai
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Sean Adl-Tabatabai
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  • Ray Charon

    Authoritarian governments don’t like cash because it’s harder to track and it makes it harder for them to get their greedy hands involved in our private business.

  • veroniquepalmer

    Uhu, and then it also makes it so much easier to just flick a switch and boom, all your money is gone.

    • William Pintainho

      As if cash in your hands is ever safe anyway! The people who will fear this the most are criminals because they will find that billions of dollars will now be “detected” and they will both start to pay their fair share of taxes and hopefully go to prison too. But the vast majority of us would be better off if this went ahead. Time to stop the FEAR mongers out there!

      • Edwina Barker

        You fucking blind idiot

      • Shubert

        Let’s just think in practical means and see how far this idea gets: Cash is exterminated: Citizens no longer have access to their money by tangible means. Between the citizen and his $ lay waste cash conglomerate officials and a series checkpoints. What was before; citizen access to $ by tangible means. Is now; a veil of cloak and daggers; citizens gaining an increase of limitations on their personal access to their income. This affects every single adult out their! Not only by limitation but also that this uneccisarry standard is hitting at us through a guide that “we need to increase total public limititations to keep all you nice people safe from the hordes of monsters waiting outside your doorstep in the bushels of your neighboring cities.”
        A cause for concern everybody in the room needs to tune into. Cash extermination is a shamelessly clear as day, hands in the cookie jar attempt, by someone, or conglomerate to etch a wedge inbetween the individual and their income. The cherry ontop this ice cream sundae of hog-posh is, aside the reality of very large space inbetween you and your $ every time you run into a financial wall and the latter of potholes already within our lives in the relationships with our banks, the freedom of income management is being stolen(an attempt to steal) from its citizens in the guise of security. In other words they’re circling in for a kill: People will have less liberty for income management and education to the people on this new ideal being flashed into our faces is not with in this systems priorities. If cash extermination where to happen for the sake of turning more digital then only citizens privileged enough to own a computer or worse a you, must use a smartphone under these limits, would have access to income. Then what would be left to the underbelly of civilization that is currently the only hunkering platform of stability our working societies have to advance. Don’t tell me we’d all go back to outright slavery, passive aggressively asking between the have and have nots that society says have nots should work for privelage without money.

      • Stéphane Blouin

        I always used cash and never had problems in my entire life.

  • Daniel Nielsen

    It is not at all as yournewswire make it look like. I am Danish, i live in Denmark: Danish government want to make it possible for businesses to say NO to cash, if they fear a robbery, f.ex. today, every single business, market and store are forced to accept cash, and thereby forced to accept the possibility of robbery. And that was it.

    No plans for eliminating cash in Denmark 🙂 Not yet at least.

    • Harry

      If criminals can’t rob you of cash with a weapon, they will find ways through electronic and computer hacking to rob your account.electronically. All that a cashless society will do is create a 1984 Big Brother dictatorship!

      • William Pintainho

        Good to see some people care enough to be so passionate about this topic! Apathy is our greatest disease today and its only when the “silent majority” start being more “vocal” (not violent) and keep fighting “corruption” in both business and government (i.e. you need to see through to the true underlying causes and not just the “symptoms”) that the eventual elimination of cash will make perfect sense. Those of you who are so afraid of the logical and inevitable (if “good is to conquer evil”) are actually playing into the hands of the corrupt people with the most “economic power” who have no desire for a “cashless society” anyway. So there are “plans within plans” and whilst the real people “pulling strings” continue to “blind the critics” (those afraid of changing and becoming more “enlightened”) then they will have won because they have even more to gain than those of you who are “afraid” of change and that BIG brother is “watching you”. If it the deception and consequences weren’t so serious I would be laughing at many of the comments made here. We should always remember that about 80% of humanity is “good” and should “win this war” but the other 20% are so clever in their ways of spreading “misinformation” and “fear” that they have always won in the past. But I think we are finally getting smarter and we are learning to catch these guys out more than ever before but we have to continue and that is why the world is currently experiencing “turbulence” and that is actually a good thing! By all means question everything but always question who has the most to gain from change. Big brother is basically government “voted in by YOU” and that means you have ultimate control over what happens if we are to finally achieve a true “democracy” too. Take responsibility and stop playing the “victim”. Notice how many people making comments are too afraid to post their own faces. Just goes to show how much FEAR you have and that the “real powerful Elite” have succeeded in controlling you exactly how they want because you are saying exactly what they want.

  • Stéphane Blouin

    RFID chip anybody ? Technocracy, I’ll take my chip with KMA on it otherwise you can KMA.

  • Mat Green

    The last bastion of freedom is CASH……..when it’s gone THEY will know about everything you buy and where you go……Good by freedom.

  • RegisteredDemocrat

    OMG We NEED to do this here in the USA!
    Step 1: Ban cash.
    Step 2: Implement transaction tax of 25% (seems fair)
    Step 3: Free college!

    SOCIALISM WILL PREVAIL!!!