With just three per cent of all financial transactions involving cash, country moves to eliminate physical legal tender.
Swedes are among the technologically savvy people on the planet, based on their high rates of use of mobile phones and internet banking.
In fact, only three per cent of all financial transactions in the country are made using cash these days. Even public transport tickets can now be pre-paid using mobile phone technology, and most people use similar services to pay for everything from groceries to major purchases.
Al Jazeera’s Linda Nyberg reports from Stockholm, the Swedish capital.