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If you ask a common man on the street in Sweden when was the last time he used cash for making a payment, his answer would astonish you. Sweden has almost become a cashless society in the last few years with most people making payments using their debit or credit cards or mobile phones. The same is the case with other Scandinavian countries like Norway, Denmark, Iceland, and Finland. Interestingly, it was Sweden in Europe that became the first country to issue banknotes in 1661. Today, in 2024, it is on course to become the first cashless society in the world.

There is no doubt that the world at large is moving away from cash and switching to digital payment methods. But it is the buying pattern of the consumers in these Scandinavian countries that gives a glimpse of the future of payments. Sweden leads the way in digital payments while Denmark and Norway are also shifting to a card and mobile payments with very little cash in circulation. It is common to see no or very little cash in the wallets of people in Scandinavian countries whether they are buying groceries or clothes in a store.

Sweden has declared unofficial death of banknotes with only 1% of the total number of transactions in 2016 made using cash. The government is happy as banks and businesses have found that handling, storing, and counting of banknotes leads to wastage of time and energy. There is also the issue of counterfeit currency that is solved with no use of cash. One big benefit is the reduction in the number of robberies and loss of lives during such events.

1. Technologies used by people for making payments

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Payments with debit and credit cards still dominate digital payments in Scandinavian countries. With more than 85% of the population having access to online banking, it is natural to see 80% of consumers making payments using their cards or direct online transfers. Here are some of the most common payment methods and technologies being used by people in Scandinavian countries.

2. Payments using credit and debit cards

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Payment through card remains the first choice of most of the people in Scandinavian countries despite a sharp increase in mobile payment methods. In fact, these countries of Europe lead the world in terms of card payments with every household in Norway making on an average 475 payments through cards every year. Despite banks asking for a PIN for these transactions, Scandinavians love to use their cards for making payments. Nowadays, many banks have obliterated the requirement of a PIN for making payments of small amounts.

3. Contactless digital payments

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Contactless payment is a very secure and convenient payment method that is gaining in popularity in Scandinavian countries. In such payments, the consumer waives his card in front of a card reader that reads the details and accepts payment. There is no need to swipe your card in a device and enter your PIN in the contactless payment method. In 2018, nearly 4.5% of cashless transactions utilized this method of payment in Norway.

4. Payments using mobile phones

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In recent years, there has been an explosion of mobile payment methods in Scandinavian countries. Making a payment using one’s own smartphone is a very convenient way of completing the transaction in a contactless manner with payment going form one’s own electronic wallet or bank account. The most popular mobile applications for payment in Scandinavian countries are Vipps (Norway), Swish (Sweden), and Mobile Pay (Denmark).

5. Siru Mobile method

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Siru is a rather new mobile payment method that has taken Sweden and Norway by storm. It is a mobile payment application with headquarters in Finland. It can be used to make payments in a very easy and convenient manner. In fact, this is a digital payment method that works well on all devices whether it is a smartphone, tablet, or desktop. The only condition is that the device should be able to send and receive SMS. You can buy anything or even make a payment to an online casino by simply making a phone call using the Siru mobile payment method.

The good thing with this new technology is that a customer does not even need to open his Siru account. He can use his mobile phone account to make a payment. The customer needs to enter his mobile number after which the system generates an SMS that contains the verification code. The amount of money used for purchase or deposit in a Siru casino is added to the next phone bill of the customer. You are charged money for this service which is not more than the cost of all the phone calls that are made for activating payment.

The verification code remains valid for the next 24 hours and it is this code that is needed by a merchant or an online casino to accept the payment made by the customer. As a consumer, you should keep this verification code to yourself and not allow anyone to even have a look at the code. After making a transaction through Siru mobile, the customer can check the activity by visiting the website of the company and logging in to their account.

If you cancel an online purchase made through Siru mobile payment method, you have to write an email to get access to the support team of this service. You have to mention the details of the transaction that has been canceled to get a refund amount in your Siru account. If you are planning to use Siru for opening an account in an online casino, you can do it easily and deposit money. Siru has become a popular payment method for gamblers playing in online casinos in Norway in recent times. You can find possibilities at to use this fantastic payment system.

At present, there is an upper payment limit of 300 Euros per month for every account holder in the Siru payment method. Also, the consumer cannot make a purchase or online deposit in a casino of more than Euro 60 at one time using this mobile payment system. The company is giving a thought to raising the limit of one-time purchase to make it more convenient for online gaming enthusiasts.

Most of the payment methods mentioned in this article are so easy to use that anyone can make payments through them without any help. They are also so secure that consumers don’t have to worry about the safety of their money or personal details with such payment options.